India's factory activity expanded at its fastest pace in seven months in December as a jump in new orders prompted companies to ramp up production, a private business survey showed on Thursday. Business optimism fell to an almost three-year low, however, as companies worried about challenging market conditions. The Nikkei Manufacturing Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 52.7 in the final month of 2019 from November's 51.2. It also remained above the 50-mark that separates growth from contraction for a 29th month, the longest since July 2013. The PMI survey also showed optimism about output over the coming 12 months declined to its lowest since February 2017.

Source: The Hindu January 02, 2020 05:41 UTC