Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

September PMI at Lowest in 4.5 Years

4 Oct 2013Deepak Shenoy1 min read

Quick Facts

What is "September PMI at Lowest in 4.5 Years" about?
What category is this article in?: Charts And Analysis
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 4 October 2013.
How long does this article take to read?: 1 min read
What topics does this article cover?: PMI

India’s Purchasing Managers Index (by HSBC/Markit) has come in at low levels in September. Manufacturing PMI comes in at 49.6, marginally up from 48.5 in August, but is still below the 50 mark, indicating contraction.

The Services PMI (the other component of the composite PMI) was at an abysmal 44.6 (from 47.6 in August), taking the Composite PMI to a low not seen in 4.5 years:

What they note:

Service sector output contracts at sharp pace
New business received by private sector firms decrease at quickest pace since February 2009
Private sector employment falls for first time in 19

months

Markets aren’t reacting yet, but this does look bad.