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India PMI @ 55

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More clear signs that the global economy is back into growth mode after the US just finished its longest post WWII contraction. India continues to see strong manufacturing growth with it's fourth consecutive month of growth. India actually has stronger growth then China which reported a number arorund 53 versus the 55 from India.

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.


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