TOKYO - India's manufacturing sector saw a stronger improvement in January, boosting production in line with the fastest increase in order books for 13 months.
The Nikkei India Manufacturing Purchasing Managers Index, or PMI, was up to 53.9 in January from 53.2 in December. Readings above 50 point to expansion, while those below 50 indicate contraction.
Increases in new orders, output and stocks of purchases were seen in January, amid favorable economic conditions and strengthening demand. Employment also rose as firms adjusted capacities due to marked growth of new work.
"The manufacturing industry in January made up for ground lost at the end of 2018, with new business and production expanding at rates not seen for over a year," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report. "It was largely domestic orders that fueled the accelerations as, although export sales continued to increase, trade growth lost momentum for the second month in a row."
For more information, visit here.