India's manufacturing sector inched up in June as the country saw improvement in business conditions as well as hiring, an HSBC survey said.
A reading above 50 shows that the sector is growing. Below 50, it indicates that the segment is contracting.
"Activity in the manufacturing sector kept up the pace in June with output, and employment expanding at a faster pace," HSBC Chief Economist for India & ASEAN Leif Eskesen said.
In order to accommodate higher levels of output manufacturers hired more workers in June.
HSBC however cautioned that, going ahead, a slight moderation in output is likely as new order growth decelerated slightly led by export orders amid the sagging global economic situation.
June PMI data also signals continued inflationary pressures in
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