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India factory activity unexpectedly expands in August as orders bounce back

Reuters  |  BENGALURU 

BENGALURU (Reuters) - 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 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 ...

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First Published: Fri, September 01 2017. 10:38 IST
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