Factory Growth Hits 10-Month High In November On Strong Demand
NDTV
An easing of COVID-19 restrictions drove demand and boosted sales, indicating the economy was on the path to normalization.
India's manufacturing activity grew at the fastest pace in 10 months in November, buoyed by a strong pick-up in demand, but higher inflationary pressure left factories worried about their future prospects, a private survey showed on Wednesday.
An easing of COVID-19 restrictions drove demand and boosted sales, indicating the economy was on the path to normalization.
Compiled by IHS Markit, the Purchasing Managers' Index rose to 57.6 in November from 55.9 in October. The reading was the highest since January and the fifth straight month above the 50-mark that separates growth from contraction.
"The Indian manufacturing industry continued to expand in November, with growth gathering pace and forward-looking indices generally pointing to further improvements in the months to come," said Pollyanna De Lima, economics associate director at IHS Markit.
