India’s manufacturing industry expanded at its fastest rate in ten months in December with a solid rise in factory orders boosting production growth at the end of 2019, a private survey showed on Thursday.
The IHS Markit India Manufacturing PMI rose to 52.7 in December from 51.2 in November, remaining above the 50-mark threshold that separates contraction from expansion
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At the sub-sector level, growth was led by consumer goods, though intermediate goods also made a stronger contribution to the headline figure. Meanwhile, capital goods remained in contraction.
“Factories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. There were also renewed increases in input purchasing and employment during December,” said Pollyanna de Lima, Principal Economist at IHS Markit.
Source: Economic Times
