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PMI: December factory activity at 7-month high

Jan 02, 2020 17:20 IST

India's factory activity expanded at its fastest pace in seven months in December as companies ramped up production. The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, rose to 52.7 in December 2019 from November's 51.2. The reading was the highest since May. It also remained above the 50-mark that separates growth from contraction for a 29th month, the longest since July 2013. Business optimism fell to an almost three-year low, however, as companies worried about challenging market conditions.