Manufacturing activity expands at quickest pace in 5 years: PMI

Growth Engine Revs Up

- FE BUREAU

INDIAN MANUFACTURING GROWTH gained further momentum in August, with ongoing improvements in demand continuing to underpin robust increases in factory orders and production as business confidence improved, according to a survey by HSBC Holdings Plc.

Up from 59.1 in July to 59.3 in August, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) – a single-figure indicator of sector performance – indicated the fastest improvement in operating conditions for 17-and-a-half years.