Mfg activity recovers in June: Survey

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NEW DELHI: Growth in

manufacturing activity

in the country

recovered

in June on the back of

solid demand

triggering the fastest rate of

job creation

in the sector in 19 years, a survey showed on Monday.
The HSBC India Manufacturing Purchasing Managers’ Index increased from 57.5 in May to 58.3 in June, indicating a sharper improvement in

business conditions

.

The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to questionnaires sent to 400 manufacturing companies.
Manufacturing output increased at a sharp pace that was faster than in May, as underlying demand remained favourable and new business continued to flow in, the survey results showed. It said the performance of the consumer goods industry was especially strong, although substantial increases were also noted in the intermediate and investment goods categories.