Factory Activity Hits 4-Month High On Robust Demand: Report

The survey results suggest India will continue to be one of the fastest-growing major economies despite slowing global growth that has undermined momentum across several other countries.

India's factory activity expanded at its quickest pace in four months in April, driven by solid growth in new orders and output, a private survey showed on Monday, signaling resilient demand and an encouraging outlook.

The survey results suggest India will continue to be one of the fastest-growing major economies despite slowing global growth that has undermined momentum across several other countries.

The Manufacturing Purchasing Managers' Index compiled by S&P Global increased to 57.2 last month from March's 56.4, remaining above the 50-mark separating growth from contraction for a 22nd month and confounding expectations in a Reuters poll for a fall to 55.8.

"Reflecting a robust and quicker expansion in new orders, production growth took another step forward in April. Companies also benefited from relatively mild price pressures, better international sales and improving supply-chain conditions," Pollyanna De Lima, economics associate director at S&P Global Market Intelligence, said in a release accompanying the survey.