The new orders sub-index, an indicator of domestic and export demand, fell to 52.3, its lowest since October. The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, fell to 52.1 in February from January’s 52.4 and was below the 52.8 expected in a Reuters poll. “Amid a stronger oil price forecast and growing fiscal risks, IHS Markit upgraded its CPI forecast to 5.2 percent for fiscal year 2017/2018,” Dodhia said. The new orders sub-index, an indicator of domestic and export demand, fell to 52.3, its lowest since October. In the same period, manufacturing activity registered its highest average quarterly growth rate since the fourth quarter of 2014.

Source: Mint February 28, 2018 06:00 UTC