Indicating a sharp uptick in industrial activity, the Nikkei India
Manufacturing Purchasing Managers’ Index TM (PMI) rose to a 22-month
peak in October of 54.4.
It stood at 52.1 in September 2016
“It was supported by stronger contributions from three of its five
sub-components – new orders, output and stocks of purchases,” said
Nikkei in a release on Tuesday Nov 01,2016, adding that output in October increased
for the tenth straight month and at the quickest rate in nearly four
years.
Reflecting the higher demand in the festival season, consumer goods
producers outperformed their intermediate and investment goods
counterparts, registering stronger rates of expansion for both output
and new orders.
“October data provide positive news for India’s economy, as
manufacturing output and new orders expanded at the fastest rates in 46
and 22 months respectively,” said Pollyana de Lima, adding that the
sector looks to be building on the foundation of the implied pick-up in
growth in the previous quarter.
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