Dec manufacturing growth inches up: PMI

India’s manufacturing sector growth inched up in December, as improving business environment pushed order flow.

The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) inched up to 56.4 (index reading) in December up from 56.3 in November.

The PMI varied between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.

“Reflecting the loosening of COVID-19 restrictions, strengthening demand and improved market conditions, factory orders increased during December,” said the Manufacturing PMI report said.

“In response, firms lifted production again. In both cases, rates of expansion remained sharp despite easing to four-month lows.”