Manufacturing growth at 8-mth high on surge in new orders, demand: PMI

NEW DELHI: Manufacturing activity in the country rose at its fastest pace in eight months as demand improved and new orders surged despite a softer rise in exports. Registering 58.1 in Mar, the HSBC India Manufacturing Purchasing Managers' Index ( PMI ) was up from 56.3 in Feb to its highest mark in eight months. March's acceleration came despite a mild slowdown in international order growth. Buoyant demand led companies to tap into their inventories to meet increased client appetite, resulting in the most rapid decline in finished goods stocks since Jan 2022.