Economic Buzz: India Nikkei Manufacturing PMI Accelerates In April

Indias Nikkei manufacturing Purchasing Managers Index, or PMI, rose to 51.6 in April from 51.0 in March, underpinned by fastest rises in output and new orders, survey data from IHS Markit showed Wednesday. Any reading above 50 indicates expansion in the sector. Both output and new orders grew at an accelerated pace in April on the backdrop of favorable demand conditions. Consequently, manufacturers raised their workforce numbers in April, but the rate of growth was marginal. On the price front, both input prices and selling prices continued to rise at slower rates in April.