The country’s manufacturing sector activity edged higher in January as companies continued to scale up production and employment, driven by the fastest rise in factory orders since December 2017. The Nikkei India Manufacturing Purchasing Managers’ Index increased to 53.9 in January from 53.2 in December, indicating stronger improvement in the health of the goods producing sector.
This is the 18th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a point above 50 means expansion, while a score below that denotes contraction.
According to the survey, the increase in factory orders was the strongest seen in 13 months. Besides favourable economic conditions, strengthening demand and sales growth also picked up in January. On the employment front, Indian manufacturing firms added more staff owing to marked growth of new work orders. “Jobs increased for the 10th straight month, albeit only slightly,” it noted. The survey noted that inflationary pressures were negligible.
This is the 18th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a point above 50 means expansion, while a score below that denotes contraction.
According to the survey, the increase in factory orders was the strongest seen in 13 months. Besides favourable economic conditions, strengthening demand and sales growth also picked up in January. On the employment front, Indian manufacturing firms added more staff owing to marked growth of new work orders. “Jobs increased for the 10th straight month, albeit only slightly,” it noted. The survey noted that inflationary pressures were negligible.
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