Photo: HSBC, Markit
India’s May manufacturing PMI came in at 54.8, basically unchanged from 54.9 in April.But don’t forget: a reading above 50 indicates expansion in the sector.
- Further substantial increase in new business
- Output growth remains marked
- Firms raise charges at one of the fastest rates in the series history
More from Markit:
New orders at Indian manufacturers increased sharply again in May, with the rate of expansion only slightly weaker than in April. According to respondents, strong demand was a key factor behind the rise in new business, while the importance of good quality products was also mentioned. New export orders increased for the seventh consecutive month.
New order growth led firms to expand production again in May, and at a substantial pace. That said, respondents continued to suggest that power cuts had hampered operations, preventing a faster rise in output.