India's manufacturing PMI hits 4-month high in April

PMI has remained above 50 for 22 months on the trot, signalling continued expansion

- Rituraj Baruah

New Delhi: Manufacturing activity grew the fastest in four months in April, driven by healthy factory orders, milder price pressures, better global sales and improved supply chains, according to a survey report published on Monday.

The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 57.2 in April from 56.4 in March. For 22 straight months now, the PMI has remained above 50, the mark separating expansion from contraction.

“Rising from 56.4 in March to 57.2 in April, the seasonally adjusted S&P Global India Manufacturing PMI indicated the fastest improvement in the health of the sector in the year-to-date (calendar)," a note from S&P Global said.

The survey showed that new orders placed with goods producers rose at the quickest pace since December.

The rate of expansion was sharp and above its long-run average. Those surveyed were of the view that the upturn was supported by favourable market conditions, demand strength and publicity.