Mumbai, Dec 2 (SocialNews.XYZ) Improvement in overall demand conditions along with new product launches accelerated India's manufacturing sector output in November, a key economic indicator showed on Monday.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) showed an index reading of 51.2 in November 2019 from 50.6 reported for October.
An index reading of above 50 indicates an overall increase in economic activity, or growth, and below 50, an overall decrease.
"Indian manufacturing production increased only moderately in November, albeit at a quicker rate than October's two-year low," the India Manufacturing PMI report said.
"Anecdotal evidence suggested that growth was supported by the launch of new products and better demand, though restrained by competitive pressures and unstable market conditions."
Besides, the survey indicated that manufacturers were partly helped by external markets, as signalled by a further expansion in international sales.
"Consumer goods provided the main impetus to overall growth, while the intermediate goods category returned to expansion territory," the report said.
"Conversely, there was a solid deterioration in operating conditions at capital goods makers."
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz