Manufacturing activity accelerated to an eight month high in March on the back of an increase in new export orders and improved domestic demand, pointing to an upturn in the crucial sector.
Registering above the crucial 50 threshold for the third consecutive month in March, the adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) -a composite single figure indicator of manufacturing performance -moved to 52.4 from the previous month's 51.1. The 50 point mark separates expansion from contraction.
The PMI survey is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 industrial companies.This is seen as a key advance indicator for the manufacturing sector.
Registering above the crucial 50 threshold for the third consecutive month in March, the adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) -a composite single figure indicator of manufacturing performance -moved to 52.4 from the previous month's 51.1. The 50 point mark separates expansion from contraction.
The PMI survey is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 industrial companies.This is seen as a key advance indicator for the manufacturing sector.
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