India's December manufacturing PMI expands to 57.8; highest in over 2 yrs

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession

India's manufacturing industry ended 2022 on a solid footing as business conditions improved at the fastest rate in over two years while growth in new orders and output accelerated, a business survey showed on Monday.

The manufacturing purchasing managers' index, compiled by S&P Global, rose to 57.8 in December from November's 55.7, better than a Reuters poll median forecast for 54.3.

December's reading was the highest since October 2020 and above the 50-mark that separates growth from contraction for an 18th straight month. The survey was conducted December 6-19.
 

Monday's data cemented the view Asia's third-largest economy is better placed than many