Factory output at 3-mth high
Mfg PMI rises to 55.7 in Nov from 55.3 in Oct amid expansion in production and slowdown in inflation
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New Delhi: Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial easing of cost pressure, according to a monthly survey released on Thursday.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 55.7 in November, up from 55.3 in October, signaling the strongest improvement in operating conditions in three months.
The November PMI data pointed to an improvement in overall operating conditions for the 17th straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 indicates contraction.
"It was business as usual for goods producers, who lifted production volumes to the greatest extent in three months amid impressive evidence of demand resilience. New orders and exports expanded markedly in the latest month," said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.
Moreover, firms were strongly confident towards growth prospects, with optimism driving another round of job creation and restocking initiatives.
