manufacturing sector growth hits 3-month high in May
Mumbai, June 2 -- Growth in activity across India's manufacturing sector in May came in stronger than what was suggested by Flash PMI numbers released earlier, final numbers for the HSBC India Manufacturing PMI released by S&P Global on Monday showed, indicating continued stockpiling amid the protracted conflict in West Asia.
The seasonally adjusted manufacturing PMI, a gauge of overall conditions derived from measures of new orders, output, employment, supplier delivery times and stocks of purchases, rose to 55 in May-higher than both April's final reading of 54.7 and the May flash estimate of 54.3. A reading above 50 indicates expansion from the previous month. The final PMI print pointed to the strongest improvement in manufacturing sect...
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