Data on Thursday showed growth rebounded to 6.3% annually in the quarter to September, from a three-year low of 5.7% in the previous period. Photo: MintIndia’s factory activity quickened in November at the fastest pace since just before the government’s surprise cash clampdown late last year, driven by a surge in new orders, a business survey found. Responding to improving demand, manufacturers cranked up output for the fourth month in a row, and hired new workers at the fastest pace in five years. That suggests a drag on the economy caused by the shock removal of higher-value currency bills from circulation in November 2016 and the roll-out of a goods and services tax (GST) this July has faded. Data on Thursday showed growth rebounded to 6.3% annually in the quarter to September, from a three-year low of 5.7% in the previous period.

Source: Mint December 01, 2017 05:48 UTC