Manufacturing sector showed a speedy growth in four months in July on account of flooding new orders, though job market remained muted and inflationary pressure was subdued.
This is expected to bring on hopes of the RBI Governor Raghuram Rajan cutting rates as a parting gift, as per PMI survey released. The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) – an indicator of manufacturing performance – rose to 51.8 in July from 51.7 in June.
A reading above 50 denotes expansion while one below means contraction.
Let us wait and see the developments……???