Factory activity gains momentum in August
New Delhi, September 1
Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 58.6 in August from 57.7 in July.
Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said the PMI results for India painted a vibrant picture of the nation’s manufacturing landscape in August.
“Robust and accelerated increases in new orders and production suggest that the sector looks to provide a strong contribution to second quarter (fiscal) economic growth,” De Lima said.
In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction. — PTI
New orders, output at 3-year high
- The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 58.6 in August from 57.7 in July
- New orders and output increased at the quickest rates in nearly three years
- In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction
