 "June IIP, IPP, factory output, factory, industry, economy, manufacturing, consumer goods, capital goods, GST, goods and services tax, industrial activity")
India’s factory activity unexpectedly expanded in August, snapping back from a contraction the previous month, as disruptions stemming from confusion over a new national sales tax eased, a business survey showed on Friday.
The rebound suggests that India’s economic growth rate, which unexpectedly slipped to a three-year low of 5.7 percent in the April-June quarter from a year ago, may also improve in the current quarter.
The Nikkei/Markit Manufacturing Purchasing Managers’ Index rose more than three points to 51.2 in August from 47.9 in July, beating the median economist forecast of 49.3 in a Reuters poll. A reading above 50 indicates expansion.
That
