India’s Manufacturing PMI Returns To Expansion Zone In July

A gauge of activity across India’s manufacturing sector expanded after a month as local lockdowns imposed to curb the deadlier second wave of the Covid-19 pandemic eased.

The IHS Markit India Manufacturing Purchasing Managers’ Index stood at 55.3 in July compared with 48.1 in June, according to a media statement. That’s the fastest pace of growth in three months. A reading above 50 indicates economic expansion.

Employment, too, increased in July — the first time since the onset of the pandemic.