Manufacturing PMI slips to 50.8 in May, marking steepest fall in 10 months

Job loss accelerated as Covid-19 'crisis intensifies' in sector, says private survey

The growth of India’s domestic factory orders and production slowed to a 10-month low in May as most states restricted businesses to contain the spread of Covid-19. The overall manufacturing activity witnessed a significant loss of growth momentum owing to the escalation in Covid cases and its detrimental impact on demand, according to a private survey.

The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) slipped to 50.8 in May from 55.5 in April. That was just above the 50 mark separating growth from contraction. In May 2020, manufacturing activity had contracted, with the PMI falling to 30.8.

The decline in employment