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FS Daily Bytes: 2nd Sep

Being a Saturday & an holiday due to Id, there aren’t much news to cover. Among the very few, there is a Dun & Bradstreet report “India’s Top Banks 2017” which highlighted the slowdown of credit growth in banks in FY1617 (8.1% to 10.9% in FY1516).

On the good news, PMI index for manufacturing rebounded to 51.2 in August compared to 47.9 in July. PMI below 50 indicates a contraction and that’s a good face saver coming just after the GDP slump down data that came in yesterday.

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