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Financial News: India's Manufacturing Growth Picks Up In September

India's Manufacturing Growth Picks Up In September

10/01/2018 - 01:17:00 (RTTNews)

(RTTNews) - India's manufacturing growth improved in September amid firmer gains in new orders, output and employment, survey data from IHS Markit showed Monday.

The headline Nikkei/IHS Markit manufacturing Purchasing Managers' Index rose to 52.2 in September from 51.7 in August. A score above 50 indicates expansion in the sector.

The survey showed that solid growth of the manufacturing sector in the latest survey period extended the current run of expansion to 14 months.

New orders advanced strongly driven by both domestic and foreign demand. With new work increasing, manufacturing production was subsequently raised for a fourteenth successive month.

There was a further increase in manpower in September. Staffing levels rose for a sixth successive month.

On the price front, input costs rose at a stronger rate amid reports of higher prices for fuel and steel. Charges were subsequently increased at a slightly firmer pace. Manufacturers were confident that output would be higher in 12 months' time.

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