India’s manufacturing activity rose in December to its fastest pace in six months, led by strong factory output and a rise in new orders, a private business survey showed.
The Purchasing Managers’ Index (PMI) from HSBC, which gives a snapshot of manufacturing health from output to jobs, climbed to 54.7 in December, compared to 53.7 in the previous month.
A figure of over 50 indicates growth in the sector while below 50 points to contraction. The survey’s findings — based on data from more than 500 manufacturers — come after India’s economic growth fell to 5.3% in July-Sept quarter.
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