India manufacturing PMI hits 8-month high in July on new orders
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index rose from 53.9 in June, to 56.4 in July, highlighting the strongest improvement in the health of the sector in eight months.
"The Indian manufacturing industry recorded a welcome combination of faster economic growth and softening inflation during July,"
Lima further said that "output expanded at the fastest pace since last November, a trend that was matched by the more forward-looking indicator of new orders. Although the upturn in demand gained strength, there were clear signs that capacity pressures remained mild as backlogs rose only marginally and job creation remained subdued."
The aggregate new order intakes rose substantially in July, recovering the growth momentum lost in June.
"The latest increase was in fact the most pronounced since last November, with quicker expansions recorded in all three broad areas of the manufacturing industry," as per the survey.
SEE ALSO :
RBI is encouraging cardholders to tokenize their cards: Here’s all you need to know about it
Auto stocks on an upswing; M&M, Tata Motors top gainers on index
Popular on BI
- I took a new job in a remote location after my divorce. There aren't many people to date, but I'm happy staying single.
- Elon Musk hits out at viral videos of DINK couples, saying there's an 'awful morality' to those who choose not to have children
- Married couples often share high blood pressure, study shows
- 8 Irresistible seasonal snacks to warm your winter days
- Vijay Shekhar Sharma says 'Wed in India' is a good idea for its food options
- NCLAT stays CCI penalty on NTPC in Ratnagiri Gas & Power shares issue
- A Japanese Start-Up Is Testing a Rocket Powered Entirely By Rocket Fuel Created From Cow Dung!
- Amazon sues scammers for stealing millions of dollars via fake returns