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Financial News: India Manufacturing Growth Robust In April

India Manufacturing Growth Robust In April

05/02/2017 - 01:41:00 (RTTNews)

(RTTNews) - India's manufacturing activity expanded for the fourth consecutive month in April, driven by strong growth in new orders, survey data from IHS Markit showed Tuesday.

The seasonally adjusted Nikkei manufacturing Purchasing Managers' Index, or PMI, came in at 52.5 in March, the same reading as in March. Any reading above 50 indicates expansion in the sector.

New orders grew at an accelerated pace in April on the back of improving client demand and greater advertising. Overall, the upturn in order books was the most pronounced since last October.

New export orders rose for the third straight month, while output growth moderated in April.

Manufacturing jobs picked up for the second consecutive month in April, which panellists related to a combination of greater production needs and expectations of a pick up in demand.

On the price front, input price inflation intensified in April, led by higher prices of metals, chemicals and plastics.

"The outlook appears encouraging too, with output expected to remain on an upward trajectory amid reports of planned capacity expansions, new product launches, aggressive marketing campaigns and an improving economic scenario," Pollyanna De Lima, Economist at IHS Markit and author of the report, said.

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