The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 54.9 in February, up from 54.0 in January, signalling a stronger improvement in the sector's health. The February PMI data pointed to an improvement in overall operating conditions for the eighth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The seasonally adjusted India Services Business Activity Index rose sharply from 34.2 in July to 41.8 in August, the highest since March, before the escalation of the pandemic.
New business received by Indian manufacturers expanded at the fastest pace since February.
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