Intense heat wave slows down India’s manufacturing growth in May

Lower work hours affected production volumes.

Manufacturing activity in India slowed down in May with a three-month low of 57.5 PMI from the previous month’s 58.8 as heat waves that hampered production volumes took a toll on the sector, an HSBC India Manufacturing Purchasing Managers’ Index survey said.

“The manufacturing sector remained in expansionary territory in May, albeit…