Manufacturing sector activity rises in Oct on robust order flow: PMI
Updated : November 01, 2018 11:11:49 IST
The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months.
This is the 15th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
New orders increased at a sharp rate during October and panelists attributed this rise to successful advertising efforts, strengthening underlying demand and competitive price-setting. The rise in new order flows was the fastest since June.