India’s factories slow to lowest level this year

MUMBAI, Oct 1 (AFP) :  Indian factory output touched a nine-month low in September on fewer export orders, even as inflationary pressures have eased, a key HSBC survey showed Wednesday.
The British banking giant said its Purchasing Managers' Index (PMI), which measures factory production, eased to 51.0 points from 52.4 the previous month.
The September reading was the weakest since December 2013 and is also the second consecutive month-on-month fall.
In the survey, keenly watched as a harbinger of industrial expansion and economic health, a reading of more than 50 points suggests expansion while anything below indicates contraction.
"Manufacturing activity continues to slow amid weaker output and new order flows. Responding to the slowdown, firms lowered purchases and trimmed inventories," said Frederic Neumann, HSBC Asian economic research co-head.