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India’s PMI slips to 52.8 as factory growth loses steam, hits five-year low

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September 1, 2026
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In August, India’s manufacturing sector experienced its most significant slowdown in five years, with production and new orders seeing a decline. This downturn marked the lowest activity level since August 2021, causing a contraction in employment for the first time in two and a half years. Although there was a slight increase in purchasing activity, overall overseas demand weakened, and while business confidence grew, it remained below historical averages.

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