India's manufacturing PMI sees small improvement in July

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India's manufacturing PMI sees small improvement in July

Aug 01, 2019 12:55 IST

India's Nikkei manufacturing PMI rose marginally on a sequential basis to 52.5 versus 52.1. Factory activity accelerated in July as domestic demand and output strengthened, encouraging firms to hire at the fastest rate in five months. The PMI reading has remained above the 50-mark, separating contraction from growth for two years. The private survey showed that new orders, came in at a faster pace even as input costs rose and foreign demand slowed to its weakest rate in 15 months.