India's September manufacturing growth cools as price rises soar to 12

By Anant Chandak

BENGALURU (Reuters) -India’s manufacturing sector expansion lost some momentum last month, slipping to its weakest pace in four months but remaining strong, while factory gate prices surged at the fastest rate in nearly 12 years to combat mounting input costs, a survey showed on Wednesday.

That suggests the United States’ punitive 50% tariffs on Indian goods could be starting to bite Asia’s third-largest economy, which has been the fastest growing among major nations this year.

HSBC’s India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 57.7 in September from August’s more robust 59.3 and lower than a preliminary reading of 58.5, reflecting the slowest improvement in operating conditions since May.

PMI readings above 50.0 indicate growt