India’s manufacturing sector growth accelerated in March, driven by stronger increases in new orders and output, survey figures from Markit Economics showed Thursday.

The HSBC Purchasing Managers’ Index, or PMI, rose to 52.1 in March from 51.2 in February. A reading above 50 indicates expansion in the sector.

Manufacturing output advanced for the seventeenth consecutive month in March and at a faster pace than in February, underpinned by a quicker rise in new order flows.

New exports orders also increased in March, but the overall growth rate moderated to the weakest in ten months.

Employment level in the manufacturing sector unchanged in March, after falling in the previous month.

On the price front, input price inflation accelerated in March, caused by the rise in prices of chemicals,metals, plastics and energy. The rate of growth was the most pronounced since August 2014,

Selling price inflation quickened to the strongest in four months, as firms attempted to sustain profit margins by raising their tariffs.

The material has been provided by InstaForex Company –