After alarming GDP numbers on Monday, India’s Manufacturing Purchasing Managers’ Index or PMI for August came in at 52, compared to 46 in July, signaling growth and rebound in production volumes for the first time in five months.
Production growth was largely driven by greater client demand for Indian goods following the resumption of business operations, according to firms.
Remember, the PMI above 50 means growth, while below this number means contraction.