Manufacturing PMI hits 14-month high in February on export orders

New work orders, especially international ones, helped catapult manufacturing sector activity to a 14-month high in February after two straight months of contraction, the widely tracked Nikkei India Services Purchasing Managers’ Index (PMI) showed. 

Manufacturing PMI for February stood at 54.3, up from 53.9 in January, indicating bulk orders from clients in key export destinations in February. The 50-point mark separates expansion from contraction.

Amid reports of successful advertising efforts, supportive government policies and strengthening demand conditions, inflows of new work at Indian goods producers continued to expand during February. The increase was the 16th in as many months and the most