India's manufacturing sector beat the expectations of economists to grow at its fastest pace in five months in November boosted by strong export orders and a surge in output, a business survey showed. The HSBC manufacturing Purchasing Managers' Index (PMI), which gauges the business activity of India's factories but not its utilities, rose to 53.7 in November from 52.9 in October.Readings above 50 denote growth, and economists had forecast a rise to 53.1 in November. Although India's factory activity has now expanded for over three-and-a-half years.
Monday, 3 December 2012
Factory index accelerates to five-month high in Nov
India's manufacturing sector beat the expectations of economists to grow at its fastest pace in five months in November boosted by strong export orders and a surge in output, a business survey showed. The HSBC manufacturing Purchasing Managers' Index (PMI), which gauges the business activity of India's factories but not its utilities, rose to 53.7 in November from 52.9 in October.Readings above 50 denote growth, and economists had forecast a rise to 53.1 in November. Although India's factory activity has now expanded for over three-and-a-half years.
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