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India's HSBC manufacturing PMI in May dropped to 50.1
But export orders rose to 54.
According to BBVA, India's HSBC manufacturing PMI fell in May to 50.1 from 51 in April, its lowest since March 2009 led by continued slowdown in output and new orders.
BBVA also said that reassuringly, gradually improving global growth prospects boosted new export orders (54 vs 51.1 in April) while input and output prices eased, which leaves room for the RBI to address growth concerns.
"We expect the RBI to ease rates by 25 bps at its June 17th meeting, which would probably be the last rate cut for 2013," BBVA said.
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