Key Points
India's factory output in May expanded at the quickest pace in the last 31 months owing to strong demand and output, while improved optimism led firms to hire at the fastest rate in six months, a private survey showed on Thursday...
The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to over a 2-1/2 year high of 58.7 in May from April's 57.2..
"While the upturn in domestic orders strengthens the foundations of the economy, rising external business foster international partnerships and boost India's position in the global market," said Pollyanna De Lima, economics associate director at S&P Global in a press release...
Data showed new orders expanded at the quickest pace since January 2021, while foreign demand grew at its fastest rate in six months..
Thanks to strong demand, firms were able to hire at the strongest rate since November 2022 and optimism around future business activity rose to its highest in five months...
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