Manufacturing PMI rises to 56.9 in February
New Delhi, March 3 -- India's manufacturing activity strengthened further in February, supported by a pickup in domestic demand, though export order growth slowed to its weakest pace in nearly a year-and-a-half, according to the latest HSBC India Manufacturing Purchasing Managers' Index (PMI) released by S&P Global on Monday.
The seasonally adjusted manufacturing PMI rose to 56.9 in February from 55.4 in January, marking a four-month high and pointing to a marked improvement in overall sector. A reading above 50 indicates expansion from the previous month. The upturn was driven by faster growth in output and new business. Firms cited demand buoyancy, marketing initiatives and rising client requirements, with new order growth being the stron...
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