Key Points
India's manufacturing industry saw expanded at the fastest rate this calendar year so far on the back of stronger factory orders and production, a private survey showed on Monday.. S&P Global India Manufacturing Purchasing Managers Index (PMI) in April rose to 57.2 in April from 56.4 in the month before, as all sub-components of the PMI made a stronger contribution to this month's figure...
Companies also benefited from relatively mild price pressures, better international sales and improving supply-chain conditions," said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence...
Both new orders and output grew at their fastest pace since December, and that helped firms resume hiring during April, following the first decline in 13 months in March...
"Manufacturers are certainly upbeat towards growth prospects, with optimism improving from March's eight-month low on the back of contracts pending approval, rising client enquiries, marketing initiatives and evidence of demand resilience," De Lima said...
The survey showed input costs rose at a faster pace in April, although improving demand meant firms were able to pass on some of that burden to customers, suggesting retail inflation is unlikely to slow significantly anytime soon...
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