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India's PMI May manufacturing index rises to 52.7

MUMBAI
2019-06-03 16:13

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MUMBAI, June 3 (Xinhua) -- India's manufacturing Purchasing Managers' Index (PMI) for May grew to 52.7 from 51.8 points in the preceding month of April, a release by IHS Markit, a London based global information provider that compiles the index, said Monday.

The growth was backed by strengthening demand conditions coupled with rising output, optimism in purchases and employment, the release said.

"A revival in new order growth promoted a faster upturn in manufacturing production, as Indian firms sought to replenish inventories utilised in May to fulfill strengthening demand," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report.
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