Indian Manufacturing activities show signs of strengthening in February - Microsec

Indian manufacturing activities showed signs of strengthening in February, with faster increases in output and new orders bolstering the PMI to reach a one year high. New export business also rose at a quicker clip.

Signaling a solid and stronger improvement in business conditions, the HSBC India Purchasing Managers' Index (PMI) increased to 52.5 in February from 51.4 in January.

The manufacturing PMI data came @ 52.50 which is up sequentially may keep the markets firm. The Q3FY14 GDP came at 4.7% which is in line with the general consensus.
Production growth accelerated on the back of a stronger rise in incoming new work from both domestic and export clients. The pace of output expansion was solid and the quickest in one year. New orders increased for the fourth month running and at the most pronounced rate since February 2013. Indeed new work from abroad rose in the latest month, with the growth rate climbing to the highest since June last year.