Mumbai: India’s manufacturing sector’s activity expanded exponentially in December 2017 due to accelerated increase in output and new orders, key macro-economic data showed on Tuesday.

 

Consequently, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a composite indicator of manufacturing performance, increased to 54.7 in December 2017 from 52.6 reported for November. An index reading of above 50 indicates an overall increase in economic activity and below 50 an overall decrease.

 

According to the PMI, the manufacturing sector ended 2017 on a positive note, with “operating conditions improving at the strongest rate in five years”.

Indo-Asian News Service