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India's factory growth hits 8-month low as election caution mounts

May 02, 2019 15:48 IST

India's factory growth hit an eight-month low in April amid election caution. The Nikkei Manufacturing Purchasing Managers' Index, fell to 51.8 last month from March's 52.6. It has stayed above the 50-mark separating expansion from contraction for nearly two years. Factory activity expanded at its slowest pace as growth in new orders and output dipped. Optimism among manufacturing firms also ebbed in April as they remain concerned about what policies the new government will adopt when it takes office by end-May.

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