India's manufacturing sector output increased at a sharp pace in June as new business continued to flow in amid favourable demand conditions and resulted in record upturn in employment, a monthly survey said on Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) increased from 57.5 in May to 58.3 in June, indicating a sharper improvement in business conditions.
In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
June data showed that the stronger expansion in sales at manufacturers in India was largely due to buoyant underlying demand, higher export volumes and successful advertising.
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