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Economy

India manufacturing PMI rises to 13-month high in November

TOKYO -- The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, rose to a 13-month high of 52.6 in November from October's 50.3.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

"India's manufacturing economy advanced on its path to recovery as disruptions from the recent tax reform (GST) continues to diminish," said Aashna Dodhia, Economist at IHS Markit, which compiles the survey.

"Growth in output and new orders picked up to the fastest since October 2016, reportedly supported by reductions in GST rates and stronger underlying demand conditions. Nevertheless, the headline PMI remained below the average seen since the inception of the survey in March 2005," Dodhia said.

(Nikkei)

For more information, visit:

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases

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