India's manufacturing manager's index hits 16-month high in July
India’s manufacturing sector grew in July, with HSBC India Manufacturing Purchasing Managers’ Index (PMI) climbing to a 16-month high of 59.1 from 58.4 in June. The index remained above the 50-mark separating growth from contraction. Growth was driven by surge in new orders, which rose at the fastest rate in five years, supported by favourable market conditions and marketing efforts.