INDIA: Manufacturing PMI Up, Services Down.
Jan-24 05:07
- India’s economy remains in very good shape with January’s preliminary PMI Manufacturing at +58 from +56.4 prior.
- Services declined marginally but remained in strong expansion at +56.8 from +59.3 prior.
- The composite declined modestly to +57.9 from +59.2.
- For manufacturing this the highest reading since December.
- Output is up to 60.3 with new orders rising from month prior.
- New orders are at their highest level since July of last year.
- The RBI next meets on February 7 and based on current data, there is no reason for policy changes.
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