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Manufacturing PMI in December
Why is it in the news?
- India’s manufacturing industry expanded at its fastest rate in ten months in December.
- There was a rise in factory orders boosting production growth at the end of 2019, a private survey showed.
More in the news
- The IHS Markit India Manufacturing PMI rose to 52.7 in December from 51.2 in November.
- A figure above 50 denotes expansion in business activity. Anything below 50 denotes contraction. Higher the difference from this mid-point greater the expansion or contraction.
- Drivers:
(1) At the sub-sector level, growth was led by consumer goods.
(2) The intermediate goods also made a stronger contribution to the headline figure.
(3) Meanwhile, capital goods remained in contraction.
Source
The Hindu.