India's manufacturing PMI hits 3-month high in May amid surge in stockpiling
New Delhi, June 1 -- India's manufacturing activity strengthened in May, with the Purchasing Managers' Index (PMI) rising to 55.0 from 54.7 in April, supported by stronger growth in new orders, output and precautionary stockpiling amid continued uncertainty in the Middle East, according to data released by S&P Global.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), which measures overall manufacturing sector performance through indicators such as new orders, output, employment, supplier delivery times and stocks of purchases, stood at 55.0 in May.
The reading was also higher than the flash estimate of 54.3 released earlier.
According to the report, the final PMI reading signalled the strongest improve...
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