Mumbai: Manufacturing activity growth in the country touched 3-month high in August. The Manufacturing Purchasing Managers’ Index, compiled by S&P Global, jumped to 58.6 last month. It was at 57.7 in July. This is the highest since May. It remained above the 50-mark separating growth from contraction for a 26th consecutive month.
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The PMI is a weighted average of the five indices, namely New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%). The index is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.
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