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India’s manufacturing PMI hit an 8-month high in July thanks to new orders

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News Tech: India’s manufacturing activity picked up momentum in July, hitting an eight-month high, according to Monday’s monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers Index rose from 53.9 in June to 56.4 in July, marking the biggest improvement in the sector’s health in eight months. increase. The July PMI data show the 13th straight month of improvement in overall operating conditions. In PMI terminology, a pressure above 50 indicates dilation and a reading below 50 indicates contraction.

“India’s manufacturing sector saw a welcome combination of faster economic growth and lower inflation in July,” said Pollyanna Delima, economics associate director at S&P Global Market Intelligence. Lima continued, “Production has increased at its fastest pace since last November, and the trend is accompanied by more positive indicators of new orders. With growth modest and job creation remaining subdued, there are clear signs that pressure on production capacity remains subdued”. “The recent surge was certainly the steepest since last November, with faster expansion in all three major manufacturing sectors,” the survey said.

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