Manufacturing in India registered a strong uptrend, hitting a three-month high in June, according to a private survey by Nikkei and research firm Markit. The Nikkei India Manufacturing Purchasing Managers' Index (PMI) rose to 51.7 in June versus 50.7 in May and 51.3 in the same month last year. The uptrend was backed by a robust increase in business orders.
The domestic market continues to be the main growth driver, as the Indian economic upturn provides a steady stream of new business. There were also signs of an improvement in overseas markets, as new foreign orders rose. However, it looks as if lackluster global demand remains a headwind for Indian manufacturersPollyana De Lima, Economist, Markit in the report
The survey's output prices sub-index fell to a three-month low of 50.1 in June compared to 50.5 last month, as input costs rose at a weaker pace.
There was broadly no change in manufacturing employment in June, the survey said.
On prices, the survey said the purchasing cost inflation eased and selling prices remained largely unchanged.
Purchasing activity grew in all the sub-sectors, the highest being in consumer goods.
India's monthly manufacturing, after a significant drop in April, has risen for the last two months.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
