India's manufacturing sector growth slows in June, PMI slips to 52.1

Manufacturing sector growth slowed in June month-on-month due to softer increase in new work intakes, which translated into slower rises in output and employment, widely tracked Nikkei purchasing managers’ index (PMI) showed on Monday.

PMI was down at 52.1 points in the month, compared to three-month high of 52.7 in May, indicating a slight setback in the manufacturing sector. This is the 23rd consecutive month that the manufacturing PMI has shown a growth. In PMI parlance, a score of above 50 means expansion, while anything below that denotes contraction.

“Gauges of factory orders, production, employment and exports remained inside growth