The HSBC Markit Purchasing Managers Index (PMI), one of the most reliable indices tracking the health of the manufacturing sector in India, climbed to its highest level in 18 months to 57.6 in January 2010. The index stood at 55.6 in December 2009.
"Any lingering concern that India’s manufacturing recovery was tailing off should be put off. A second consecutive rise in PMI has taken the series to a new cycle high, consistent with a double digit rise in industrial production," Robert Prior Wandesforde, Senior Asian Economist, HSBC said on Tuesday.
(Source: Business Standard)