India’s manufacturing conditions improved for the fourth straight month in April due to healthy domestic demand conditions and exports growth, a key macro-economic data showed on Tuesday.
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), which is a composite indicator of manufacturing performance during April 2017, matched the index reading of 52.5 reported in March.
An index reading of above 50 indicates an overall increase in economic activity, and below 50 an overall decrease.
“Buoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total new business received by Indian manufacturers in April,” said Pollyanna De Lima, economist at IHS Markit and author of the report.
“Having recovered at the beginning of the year from December’s demonetisation-related contraction, growth of order books has gathered pace in each month since.”