Strong demand pushes India's April manufacturing sector growth

IANS  |  Mumbai 

Strong demand accelerated India's sector growth in April 2018, the Nikkei (PMI) showed on Wednesday.

The composite indicator of performance increased to 51.6 in April 2018 from 51 in March.

An index reading of above 50 indicates an overall increase in economic activity and below 50 an overall decrease.

According to the PMI, faster expansions in output and new orders led to a higher reading for April.

Commenting on the data, Aashna Dodhia, at and the of the report, said: "The Indian manufacturing started the quarter on a slightly stronger footing as growth picked-up from March's five-month low, buoyed by stronger demand conditions.

"Putting the data under a magnifying glass, consumer goods was again the bright spot, with output growth being the fastest among all the three market groups. Meanwhile, investment goods was the weakest performing category as both production and new orders declined during April."

--IANS

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First Published: Wed, May 02 2018. 14:28 IST