PMI rises to 13-month high of 52.6 in November
Indias November PMI data is at a 13-month high. Roll-out of GST along with higher order volumes led to PMI expansion.
Key Highlights
- India's November PMI is at a 13-month high.
- October PMI stood at 50.3.
- Input cost inflation quickened to the fastest since April.
Nikkei India Manufacturing Purchasing Managers’ Index, or PMI, rose to a 13-month high of 52.6 in November form 50.3 the previous month.
“A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction,” Nikkei said.
This has been the highest PMI registered since October 2016. It is also the fourth consecutive month of expansion, as per Bloomberg data.
“India's manufacturing economy advanced on its path to recovery as disruptions from the recent tax reform (GST) continues to diminish," said Aashna Dodhia, Economist at IHS Markit, which compiles the survey.
Nikkei India Manufacturing PMI:
India's GDP growth recovers to 6.3% in second quarter of FY18
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