Good news at last as Nikkei PMI turns positive for Jan

February 01, 2017 10:59

Manufacturing sector rebounded from demonetisation downturn in January amid rising order books, production as well as buying levels and the expansion in the sector is likely to pick up pace in coming months, says a monthly survey.

The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of manufacturing activity -- increased to 50.4 in January from 49.6 in December.

A reading above 50 indicates expansion while any score below the mark denotes contraction.

The main factors contributing to the above-50.0 PMI reading were growth of both new orders and output as market conditions returned to normal and led to subsequent improvement in demand.

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