India manufacturing sector eases to 54.7% in March

Orders were less due to power outages and raw material shortages.

HSBC said that India's manufacturing sector expanded at a slower clip in March, making output and new orders less fast.

In its report, HSBC said India's PMI eased to 54.7% in March compared to February at 56.6% Output meanwhile was at 56.3% vs. 60.5% in February.

New orders grew at a slower clip at 58.1% vs. 62.8% in February while export orders accelerated at 55.6% vs. 53.9% in February.

Supply delivery meanwhile lengthened and backlogs of work rose underscoring the still tight capacity. Pick up in employment did not help sufficiently alleviate the capacity constraints.

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