TOKYO -- India's manufacturing sector strengthened for the third successive month in November, driven by healthier inflows of new orders.
The Nikkei India Manufacturing Purchasing Managers Index, or PMI, increased to 54.0 in November from 53.1 in October. Readings above 50 point to expansion, while those below 50 indicate contraction.
Stronger demand conditions and greater sales led to manufacturers increasing production at the second-quickest pace since October 2016.
"“Manufacturers further drew down their finished goods stocks to meet demand," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report.
"This, coupled with improved business sentiment, should ensure that production continues to rise at a robust clip as we head towards 2019."
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