NEW DELHI: India s factory activity expanded for the seventh straight month in February, driven by strong demand and increased output, according to a private sector survey that also showed input costs inflation hitting a 32-month high.
Although the Nikkei Manufacturing Purchasing Managers Index , compiled by IHS Markit, eased slightly to 57.5 in February from 57.7 in January, it was well above the 50-level separating growth from contraction.
Sub-indexes showed output and new orders rose sharply last month, albeit at a slower pace than in January, indicating strong demand. Indian goods producers reported a healthy inflow of new orders in February, a situation that underpinned a further upturn in output and quantity of purchases, noted Pollyanna De Lima, economics associate director at IHS Markit.
India s January factory activity hit 3-month high, job cuts subside
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India s January factory activity hit 3-month high, job cuts subside
Reuters / Feb 1, 2021, 10:41 IST
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BENGALURU: India s factory activity expanded at its strongest pace in three months in January, fuelled by a continued recovery in demand and output, according to a private survey which also showed firms cut jobs at the slowest pace in 10 months.
The Nikkei Manufacturing Purchasing Managers Index , compiled by IHS Markit, rose to 57.7 in January from December s 56.4, above the 50-level separating growth from contraction for the sixth straight month.
Sub indexes tracking new orders and output rose to their highest since October, indicating strong growth in demand.