India's manufacturing sector experienced a strong improvement in January

TOKYO – The Indian manufacturing sector saw a more marked improvement in January, boosting production in line with the fastest growth in order books in 13 months.

The index of Purchasing Managers in the manufacturing sector Nikkei India, or PMI, reached 53.9 in January, against 53.2 in December. Readings above 50 indicate expansion, while values ​​below 50 indicate contraction.

Increases in new orders, production and purchase inventories were observed in January, in a context of favorable economic conditions and stronger demand. Employment has also increased as firms have adjusted their capacity due to the marked growth in the number of new jobs.

"The manufacturing industry in January has caught up lost ground at the end of 2018, with new business and expanding production at rates never seen for more than a year," said Pollyanna De Lima, Senior Economist at IHS Markit and author of the report. "In large part, domestic orders fueled accelerations because, while export sales continued to grow, trade growth lost momentum for the second month in a row."

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