Manufacturing PMI up at 50.4 in Jan

Manufacturing sector activity rebounded in January and registered positive growth after contracting in December due to demonetisation, according to a private monthly survey.The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose to 50.4 in January from 49.6 in December. “The main factors contributing to the above-50 PMI reading were growth of both new orders and output,” said Nikkei , adding that the rates of expansion were only slight, but reversed the contractions noted in December.