India's manufacturing output reaches 13-month high in December

Tags: Economy/Finance National News

India's manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey.

Important facts

• The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 57.8 in December from 55.7 in November.

• The reason for this is that the fastest improvement is now being seen in business activities in the last 2 years.

• The December data showed that overall operating conditions improved for the 18th consecutive month.

Meaning of PMI Index

• In the language of Purchasing Managers' Index (PMI), a score above 50 means expansion, while a figure below 50 indicates contraction.

• The beginning of 2022 was very good, since then the performance of the manufacturing sector has remained consistently good.

• The S&P Global India Manufacturing PMI is prepared by S&P Global on the basis of responses received from purchasing managers of 400 manufacturers.