Feb manufacturing PMI growth flat

NEW DELHI: India's manufacturing activity remained firm in February, with the Purchasing Managers' Index coming in at 57.5 due to better demand conditions.

While the index fell from its threemonth high of 57.7 in January, it remained above the long-run average of 53.6, according to IHS Markit.

A Purchasing Managers’ Index reading above 50 shows expansion in activity, while one below 50 indicates contraction.

This is the seventh consecutive month in which manufacturing activity has risen, after having contracted earlier due to COVID-19 and consequent lockdowns.

"Indian goods producers reported a healthy inflow of new orders in February, a situation that underpinned a further upturn in output and quantity of purchases," said Pollyanna De Lima, economics associate director at IHS Markit.