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2016.10.0301:18:00UTC+00India's Manufacturing Growth Eases In September

India's manufacturing growth slowed in September, after reaching to a 13-month high in the previous month, survey figures from Markit Economics showed Monday.

The Nikkei Purchasing Managers' Index dropped to 52.1 in September from 52.6 in August. However, any reading above 50 indicates expansion in the sector.

New business inflows continued to expand in September, though at a softer pace. Growth was reportedly hampered by strong competition for new work.

At the same time, export orders climbed at the quickest rate in fourteen months.

Output grew for the ninth straight month in September, but the rate of expansion eased since August.

On the price front, input price inflation intensified in September. Manufacturers lifted their selling prices further in an attempt to protect profit margins.

"Although inflation rates edged higher, these remain weak by historical standards and indicate that we may still see the RBI loosening monetary policy in 2016," Pollyanna De Lima, Economist at IHS Markit and author of the report, said.

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