Manufacturing Purchasing Managers’ Index, by The Nikkei India, strengthened in September to reach 52.2 from 51.7 in August. A reading of over 50 on this survey-based index indicates expansion, below that contraction.
As per the survey report, underpinning the overall expansion was a firmer increase in levels of new work and gains in both domestic and foreign demand. Moreover, export sales strengthened, with the net gain the best recorded since the start of the year. Firmer gains in new orders, output and employment were some of the factors that led manufacturing record an improvement in growth in September
Rising prices continued to weigh on sentiment as a strong US dollar and supply shortages exacerbated high global prices for steel and fuel.
The survey showed that optimism about future output slipped to the lowest since June.
