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India: Nov. PMI reaches 58.4

12-02-2010 08:48 BJT

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Yesterday, India reported higher than expected GDP, and it followed that up with more good news today. India's manufacturing sector expanded at its fastest pace in six months in November.

The HSBC Market Purchasing Manager's Index, or PMI, rose to over 58, from 57.2 in October and that's its strongest level since May. The survey shows all but two sub-indexes expanded in the past month. As for the bigger picture, the reading signals continued growth as it marks the 20th consecutive month that India's PMI has been above the reading of 50, which divides growth from contraction.

Experts say the expansion is thanks to robust new business and a sharp rise in export orders.

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Editor:Xiong Qu |Source: CNTV.CN

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