India’s June manufacturing PMI came in at 55.0.This compares to 54.8 in May.
“Activity in the manufacturing sector kept up the pace in June with output, and employment expanding at a faster pace,” wrote HSBC economist Leif Eskesen. “The latter helped slow the pace of growth in backlogs of work.”
“In light of these numbers, the RBI does not have a strong case for further rate cuts, which could add to lingering inflation risks.“
- PMI at 55.0 indicates further improvement in health of manufacturing economy
- Production expands sharply in June
- Largest month-on-month increase in input prices since August 2011