India's manufacturing PMI at a 10-month low in May: IHS Markit

According to the monthly IHS Market India Manufacturing Purchasing Managers' Index (PMI) survey released on May 1, manufacturing PMI stood at a ten-month low of 50.8 in May, down from 55.5 in April.

The continuing COvid-19 pandemic and restrictions of the supply chain due to regional lockdowns continue to affect the sector. After falling to a 7-month low in March, manufacturing PMI had improved slightly in April.

India's manufacturing activity hit a major speed bump in May after being on the slow road to improvement in April, as the renewed escalation of the (COVID-19) pandemic and subsequent restrictions played spoilsports for factory activity.