India’s manufacturing sector recorded its sharpest improvement in operating conditions in more than 17 years in August, supported by robust demand and rising production efficiency, according to a monthly survey released Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) inched up to 59.3 in August from 59.1 in July, marking the fastest pace of growth in 17-and-a-half years.
In PMI terms, a reading above 50 signals expansion, while below 50 indicates contraction.