Indicating an improvement in industrial activity, the Nikkei India
Manufacturing Purchasing Managers’ Index (PMI) jumped to a three-month
high of 51.7 in June, against 50.7 in May 2016
“The main contributing factors to the upward movement in the PMI were
stronger rates of growth in new orders and output, both of which reached
three-month highs in June,” said a Nikkei statement on Friday July 01,2016. A
reading above 50 indicates expansion while one below means contraction.
“Indian factories registered a welcome upturn in growth of both
production and new orders mid-way through 2016, but producers clearly
remain stuck in a low gear,” said Pollyanna De Lima, Economist at Markit
and author of the report.
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