Mumbai, May 2 (IANS) Strong demand accelerated India’s manufacturing sector growth in April 2018, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) showed on Wednesday.
The composite indicator of manufacturing performance increased to 51.6 in April 2018 from 51 in March.
An index reading of above 50 indicates an overall increase in economic activity and below 50 an overall decrease.
According to the PMI, faster expansions in output and new orders led to a higher reading for April.
Commenting on the PMI data, Aashna Dodhia, Economist at IHS Markit and the author of the report, said: “The Indian manufacturing economy started the quarter on a slightly stronger footing as growth picked-up from March’s five-month low, buoyed by stronger demand conditions.
“Putting the PMI data under a magnifying glass, consumer goods was again the bright spot, with output growth being the fastest among all the three market groups. Meanwhile, investment goods was the weakest performing category as both production and new orders declined during April.”