Rise in new orders boosts manufacturing PMI to 7-month high in December

But weak market conditions keep firms spooked and business optimism low

A sudden boost in new orders helped the beleaguered manufacturing sector surge ahead in December even as business optimism fell to a three-year low, with firms remaining spooked by weak market conditions, said a monthly global survey released on Thursday.
 
The widely tracked Nikkei India manufacturing Purchase Managers’ Index (PMI) rose to 52.7, a seven-month high, from November’s 51.2.
 
In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. The rebound in growth comes after October’s two-year low PMI performance at 50.6.
 
However, official data shows that contraction remained entrenched in