India's manufacturing sector beat the expectations of economists to grow at its fastest pace in five months in November, boosted by strong export orders and a surge in output.The HSBC manufacturing Purchasing Managers' Index (PMI), which gauges the business activity of India's factories but not its utilities, rose to 53.7 in November.The new export orders sub-index rose to a six-month high of 55.9 in November, giving thrust to overall orders and factory output both of which expanded at their fastest pace since July.The survey also showed both input and output prices rose sharply in November, after rising at a slower pace in October.That could put renewed pressure on India's headline inflation rate which at 7.5 percent in October, is well above the Reserve Bank of India's commonly perceived comfort zone around 5 percent.
News On AIR | December 4, 2012 10:12 AM