Purchasing Manager’s Index at 17 Month High
Feb. 10 – India’s manufacturing Purchasing Managers’ Index, a key measure that indicates the mood in the manufacturing sector, rose to a 17-month high at 57.6 in January from 55.6 in December.
Exports increased for the second month running and in December it grew by 9.3 percent to US$14.6 billion. An analyst from Nomura told The Times of India: “The surge in export orders in January suggests growth is being consistently supported by foreign demand.”
Imports have also gotten better with more 27 percent growth ending an 11-month negative period. Economic growth was also reflected by a strong growth in earnings reported by corporations in December. Employee salaries are expected to increase in all sectors specifically IT, financial services to manufacturing.
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