Financial Times -- India’s manufacturing sector grew in April for the first time in five months, spurring hopes of an end to falling growth estimates and contracting exports. The ABN-Amro Bank purchasing managers’ index index rose to 53.3 in April from 49.5 a month earlier, buoyed by higher demand for goods from Indian factories and stock building (see chart above). The reading is the highest since October and reflects a steady rise in orders since the global economic downturn undermined the index at the end of last year.
Meanwhile, the purchasing managers’ index for Chinese manufacturing published by CLSA, the Hong Kong-based brokerage, rose to 50.1 in April from 44.8 a month earlier, signalling an expansion in factory output for the first time in nine months (see chart above).
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