India's Flash PMI Indicates Strong Growth in Factory Orders and Production
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The Flash Purchasing Managers' Index (PMI) for India is at 61.3, the highest in factory orders and production in nearly 3.5 years. PMI is a leading indicator of growth or a slowdown and provides a snapshot of the economy. The PMI is a diffusion index that counts the number of indicators with a positive or negative change. The Flash PMI is an estimate based on around 90% of the total PMI responses for the month. The final PMI numbers are expected to be similar. However, relying solely on the Flash PMI can lead to misleading data, as seen in the UK. India's strong PMI numbers have led to upgraded growth projections by global agencies. The PMI does not indicate the magnitude of the movement. India's strong PMI suggests that the GDP numbers will continue to look good .
India's Flash Purchasin...
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