Good news has come in the form of PMI data for the Month of December 2011. PMI data released by HSBC Bank in India and trusted by many for its accuracy has shown significant improvement in December 2011. It has gone up from 51 points to 54.2. The index shows the Moods of 500 Purchase manager of India in the Manufacturing sector. This shows that manufacturing activity will go up in the coming Months. This can change the mood of the market. After the IIP data last relased by the Government the mood around the market was gloomy. The IIP data shown for October degrowth of Industrial activity by 5.1% in the Month of October, which was one of the worst since March 2009. Sensing the poor growth rate and IIP data RBI has already signaled in last review to reverse the interest rate in India. Hope all will be OK as we move to 2012
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