Manufacturing activity hits near eight-year high after orders jump in January

According to a private survey, India’s manufacturing activity expanded at its fastest pace in nearly eight years in January with robust growth in new orders and output. The factories also hired new workers to keep up with the increased demand in the market. The Nikkei Manufacturing Purchasing Managers’ Index jumped to 55.3 last month from 52.7 in December. It is the highest rating since February 2012.