Manufacturing activity in the country rose to a six-month high in July on the back of new orders.
The Nikkei India Manufacturing Purchasing Managers' Index -a key indicator of manufacturing performance -rose to 52.7 in July from 51.3 in June. The 50-point mark separates expansion from contraction. Revival of the industrial sector is crucial for boosting growth. While recent data has shown green shoots of recovery , economists say it has to be sustained to script a robust turnaround.
Manufacturing business conditions across India improved further in July . A solid and accelerated increase in new orders led firms to raise production accordingly . Moreover, growth of both domestic and foreign demand was reported, with new business from abroad rising at the quickest rate since February . On the price front, a marginal rise in cost was registered, whereas average selling prices were unchanged over the month, according to the survey .
Output continued to grow in July , with increases seen across the three monitored market groups. Moreover, the overall rate of expansion was solid and faster than in June.Growth of new orders gathered pace across the three broad areas of the manufacturing economy . Anecdotal evidence highlighted stronger demand from both domestic and foreign clients.
The Nikkei India Manufacturing Purchasing Managers' Index -a key indicator of manufacturing performance -rose to 52.7 in July from 51.3 in June. The 50-point mark separates expansion from contraction. Revival of the industrial sector is crucial for boosting growth. While recent data has shown green shoots of recovery , economists say it has to be sustained to script a robust turnaround.
Manufacturing business conditions across India improved further in July . A solid and accelerated increase in new orders led firms to raise production accordingly . Moreover, growth of both domestic and foreign demand was reported, with new business from abroad rising at the quickest rate since February . On the price front, a marginal rise in cost was registered, whereas average selling prices were unchanged over the month, according to the survey .
Output continued to grow in July , with increases seen across the three monitored market groups. Moreover, the overall rate of expansion was solid and faster than in June.Growth of new orders gathered pace across the three broad areas of the manufacturing economy . Anecdotal evidence highlighted stronger demand from both domestic and foreign clients.
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