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Financial News: India Manufacturing Growth Rises In January

India Manufacturing Growth Rises In January

02/01/2019 - 09:29:00 (RTTNews)

(RTTNews) - India's manufacturing growth improved in January amid gains in new orders, input buying and employment, survey data from IHS Markit showed on Friday.

The headline Nikkei/ IHS Markit manufacturing Purchasing Managers' Index rose to 53.9 in January from 53.2 in December. A score above 50 indicates expansion in the sector.

Factory orders was strongest in 13 months. New orders increased solidly in foreign market, rising for the 15th month in a row. Production grew at the strongest pace since December 2017.

Staffing levels rose for a tenth successive month, albeit modestly.

On the price front, input costs rose at a muted rate amid reports of higher prices for paper, textiles, steel and synthetic rubber, while firms noted lower charges for aluminum, copper, oil and plastic. Factory gate charges were subsequently increased slightly.

Business sentiments in manufacturing sector improved to a five-month high on forecasts of greater sales, favorable economic conditions and planned investment in marketing.

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