Manufacturing in India saw a significant uptrend in June registering a three-month high on the back of stronger increase in new business orders, key macro-economic data showed on Friday. The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) - a composite indicator of manufacturing performance - rose to 51.7 in June from 50.7 in May.
An index reading of above 50 indicates an overall increase in the economic activity, and below 50, an overall decrease. "Supported by a stronger increase in new business inflows, Indian manufacturers raised production at a faster rate during June," financial services firm Markit, which compiles the monthly report, said in a release here.
"Rising from 50.7 in May, the headline index was at a three-month high at 51.7 in June," it said. "Indian factories registered a welcome upturn in growth of both production and new orders mid-way through 2016, but producers clearly remain stuck in a low gear," said Pollyanna De Lima, economist at Markit and author of the report.
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An index reading of above 50 indicates an overall increase in the economic activity, and below 50, an overall decrease. "Supported by a stronger increase in new business inflows, Indian manufacturers raised production at a faster rate during June," financial services firm Markit, which compiles the monthly report, said in a release here.
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