India's Manufacturing PMI In April Hits 4-Month High On Robust Demand
News 18India’s factory activity expanded at its quickest pace in four months in April, driven by solid growth in new orders and output, a private survey showed on Monday, signalling resilient demand and an encouraging outlook. Besides seeing the strongest inflow of new work in 2023 so far, capacities were expanded through job creation, input buying was lifted.” Both new orders and output grew at their fastest pace since December, and that helped firms resume hiring during April, following the first decline in 13 months in March. “Manufacturers are certainly upbeat towards growth prospects, with optimism improving from March’s eight-month low on the back of contracts pending approval, rising client enquiries, marketing initiatives and evidence of demand resilience,” De Lima said. Inflation was expected to average 5.3 per cent this fiscal year and 5.0 per cent next, remaining well above the Reserve Bank of India’s 4.0 per cent medium-term target, a separate Reuters poll found.