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India's factory PMI jumps to 8-month high in Jan!

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Wednesday, 1 February 2012

India's factory PMI jumps to 8-month high in Jan!

1 FEB, 2012, 10.32AM IST, REUTERS 



BANGALORE: India's manufacturing sector grew at its fastest pace in eight months in January as factory output surged the most on record on increased domestic and foreign demand, a business survey showed on Wednesday.


The HSBC manufacturing purchasing managers' index (PMI) , compiled by Markit, jumped to 57.5 from 54.2 in December.


"Activity in the manufacturing sector rebounded again in January led by higher demand from both domestic and foreign clients, suggesting some recovery in sentiment in recent months," said Leif Eskesen, economist at HSBC.


India's headline PMI has held above the 50 level that separates growth from contraction for almost three years, underlining the sector's resilience in the face of a global downturn and euro area debt crisis.


Click here for full story!

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