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Nikkei PMI

India manufacturing PMI rises in May

TOKYO -- India's manufacturing sector signaled strongest improvement for three months, supported by stronger demand conditions.

The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, rose to 52.7 in May from 51.8 in April. 

Readings above 50 point to expansion, while those below 50 indicate contraction.

Companies responded to strengthened demand conditions by lifting output, quantities of purchases and employment. 

"To assist with higher output needs, and benefit from relatively muted cost inflation, companies stepped up hiring and input purchasing," said Pollyanna De Lima, principal economist at IHS Markit, which compiles the survey.

"Goods producers were also able to charge competitive prices due to negligible increases in their cost burdens, meaning not only higher sales in the domestic market, but also greater overseas demand."

(Nikkei)

For more information, please visit IHS Markit website

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