Manufacturing PMI hits 14-month high

Owing increases in sales, output, and employment, Indian manufacturing activity has expanded to a 14-month high of 54.3 in February, according to a private sector survey. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) recorded a strong reading of 53.9 in January too. A reading over 50 indicates an expansion in activity and one below 50 shows a contraction. “The Indian manufacturing sector made further progress midway through the final quarter of FY18, building on the accelerated upturn noted in January,” Pollyanna De Lima, Principal Economist, IHS Markit, and author of the report, said. “Sharper growth in production and sales were matched by the establishment of new jobs,” she added.

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