India PMI @ 55
If India actually follows through on its infrastructure plans, stocks like Sterlite Industires (SLT), Foster Wheeler (FWLT), and Terex (TEX) could see huge growth from this country and hence stock prices.
- Markit Economics’ Purchasing Managers’ index stood at 55.3 in July, unchanged from June, according to a report released today. It was the fourth monthly reading above 50, which indicates factory production increased.
- The Reserve Bank of India last week raised its growth forecast for the year to March 2010 to 6 percent “with an upward bias” from the 6 percent estimated in April, citing favorable funding conditions for companies and a revival in industrial production.