India’s composite Purchasing Managers Index (PMI) – a blend of the inputs from manufacturing and services – shot up to 56.3, a ten month high, reports HSBC/Markit.
Anything about 50 is expansion, so the pace of expansion has increased.
The manufacturing PMI also went up to 54.7
This means the recovery in India is ongoing, if you can trust this data. GDP figures for Q3 (Oct – Dec) 2012-13 should be good, when they come through in February. However, this doesn’t really mean we’re out of the woods, and we’ll have to wait two months to see if this was only a random spike or if it is a real change.
