India’s manufacturing sector expanded fastest in four months in October, defying slowdown fears. Attesting to this, the Purchasing Managers’ Index (PMI), published by Nikkei/IHS Markit Services, rose to 53.1 from September’s 52.2. India’s PMI has stayed above 50 for the past 15 months, marking continuous expansion.
The PMI is an indicator of economic health and activity for the manufacturing and service sectors.
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