The Purchasing Managers' Index for India's manufacturing industry in August fell to 57.5, down from 58.1 in July.
The sub-index for production fell to 60.3, the lowest level since January. In July, this sub-index was 61.7. The sub-index for new orders also fell to its lowest level since January.
An index value above 50 indicates increased activity in the sector, i.e. growth.
The Purchasing Managers' Index for August comes as statistics show how India's economy slowed down in the second quarter of this year, to a growth rate of 6.7 percent annually. In the first quarter, the growth rate was 7.8 percent annually.
Experts at Bloomberg Economics now expect India's central bank to lower the country's interest rate to 6.25 percent in October and then continue to lower it to 5.5 percent in the autumn of 2025.
