Factory activity slowed in March, optimism at 2-year low: PMI survey

India's factory activity expanded at a slower pace in March as rising prices meant new orders and output grew at their weakest rate since September, according to a survey released on Monday that also showed optimism at a two-year low.

The survey provides the latest evidence the recovery in Asia's third-largest economy is slowing. Hikes in oil prices, primarily driven by uncertainties around the Russia-Ukraine war, have already taken a toll on consumer spending - the biggest contributor to GDP growth.

Compiled by S&P Global, the Manufacturing Purchasing Managers' Index declined to 54.0 in March from 54.9 in February. However, it has