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Macro Matters: PMI surveys confirm growth slowdown, but there is a silver lining

Will the economy revive once the political uncertainty is over?

May 08, 2019 / 11:38 AM IST
Macro Matters: PMI surveys confirm growth slowdown, but there is a silver lining

Representative Image

The Purchasing Managers’ indices for April confirm that growth is slowing in the Indian economy. The Nikkei India Composite PMI Output index, a seasonally adjusted gauge of private sector business activity in both manufacturing and services, fell to a seven-month low of 51.7 in April. A reading above 50 denotes expansion from the previous month. As Chart 1 shows, although still expanding, the economy has lost considerable momentum since February. (image) Several economists and institutions have said the economy is slowing,...

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