Having turned a corner in December, India’s beleaguered manufacturing sector hit a near eight-year high in January, according to a private survey on Monday.
The manufacturing Purchasing Managers’ Index (PMI) for India shot up to 55.3 in January from 52.7 in December.
A figure above 50 indicates expansion, anything lower signals contraction.
The survey by data analytics firm IHS Markit tracked new orders, output, jobs, suppliers’ delivery time, and stocks of purchases at around 400 manufacturers.
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“The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business,” Pollyanna de Lima, principal economist at IHS Markit, said.
Source: livemint
