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Factories post fastest growth for 17 months in July

Reuters  |  BANGALORE 

By Sumanta DeyBANGALORE (Reuters) - India's factory activity expanded at its fastest pace in 17 months in July as firms responded to burgeoning new orders by increasing output even as input prices jumped sharply, a business survey showed on Friday.The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, rose to 53.0 in July from 51.5 in June, its highest since February 2013. A reading above 50 separates growth from contraction.While the PMI has signalled an expanding manufacturing sector for nine months, a surge in new orders in July helped drive the solid improvement in ...

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First Published: Fri, August 01 2014. 10:39 IST