PMI manufacturing rises to 10-month high in Nov on high domestic demand

 A day after the release of Gross Domestic [Product (GDP) data, the IHS Markit Purchasing Managers' Index (PMI) survey painted an optimistic picture of manufacturing as the index zoomed up to a ten-month high in November due to high domestic demand. Going forward, high cost inflation, along with the new Coronavirus (Covid-19) wave, could spoil the party.

PMI rose to 57.6 in November from 55.9 in the previous month, the highest figure since January this year. Moreover, the headline figure was well above its long-run average of 53.6. In the PMI lexicon, a figure above 50 points to growth, while