January PMI snippets

Activity in the country’s factories in January grew at their fastest pace in nearly a year, on the back of domestic and export orders.
The HSBC India Purchasing Managers’ Index (PMI) posted a reading of 51.4 in January, up from 50.7 in December and the highest since March 2013. January saw new orders expand at the quickest rate in 10 months.
The industrial sector has been witnessing a prolonged slowdown due to a combination of factors, including high inflation, rising input costs and slowing investments. The survey pointed to a tentative recovery on the industrial front. The pickup in manufacturing activity is a welcome news following months with softening activity readings.
The PMI data showed employment rose for the fourth month running in January, with all three areas of the manufacturing economy posting job creation.
Companies operating in the manufacturing sector signalled pressure on operating capacity in January, as backlogs of work increased solidly. Moreover, unfinished work increased for eighteenth month in a row.
Economic growth slowed to a decade low of 4.5% in 2012-13 and is expected to be at a similar level in the current fiscal.
All three market groups posted higher work-in-hand, with the sharpest increase noted at consumer goods firms. Meanwhile, supplier performance improved in the latest month for the first time since September 2013.