Manufacturing PMI Falls to Lowest Point in Two Years, Unemployment Rate Rises to 8.5%

India manufacturing PMI falls. Umemployment rate rises to two-and-a-half year high.

ECONOMY

India's manufacturing PMI falls to the lowest point in two years.

Down...: Slowdown clouds continue to hover gloomily over the Indian economy. In October, both factory orders and production rose at their weakest rate in two years. Subsequently, the headline seasonally adjusted IHS Markit India Manufacturing PMI climbed down from 51.4 in September to 50.6 in October, again a two-year low.

 

Further data offered no reprieve. Job creation softened to a six-month low, business confidence slipped to its lowest in two-and-a-half years, and input costs declined for the first time in more than four years. IIFL

Unemployment rate rises to 8.5%.

...And Downer: As per data released by the Centre for Monitoring Indian Economy, India's unemployment rate rose to 8.5% last month, which is the highest since August 2016. In September, the number was 7.2%. This reflects a further deterioration of economic parameters and the continuing slowdown that has affected virtually all sectors of the national economy. Deccan Herald

 

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