Manufacturing PMI rises marginally in May
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a monthly indicator of the manufacturing sector's economic health, rose marginally from 50.5 in April to 50.7 in May, one of its lowest readings since 2013-end. Further, the output sub-index dropped to a five-month low as overseas demand decreased. A PMI reading above 50 indicates expansion while below 50 signals contraction.