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Manufacturing firms were encouraged to engage in purchasing activity and raise their staffing levels.

Market News Manufacturing PMI rises to 53.1 in June

Aug 21, 2018

The Nikkei India Manufacturing Purchasing Managers Index (PMI) went up to 53.1 in June from 51.2 in May

The Nikkei India Manufacturing Purchasing Managers Index (PMI) rose to 53.1 in June from 51.2 in May, consistent with the fastest improvement in the health of India's manufacturing economy this year so far. This happens to be the 11th consecutive month that the manufacturing PMI has remained above the 50-point mark. According to the survey, the sector's activity grew at the strongest pace since last December, supported by the rise in domestic and export orders. Emphasising on the manufacturing economy in India, Aashna Dodhia, Economist, IHS Markit, said, "India's manufacturing economy closed the quarter on a solid footing against a backdrop of robust demand conditions, highlighted by the sharpest gains in output and new orders since last December." Furthermore, new orders from international markets rose for the eighth consecutive month, while the rate of expansion accelerated to the fastest pace since February. Besides, reflecting stronger demand conditions, manufacturing firms were encouraged to engage in purchasing activity and raise their staffing levels. The report also says that demand conditions are likely to improve over the next year.

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