Manufacturing sector bounces back into growth zone after GST-related contraction: PMI

Factory output grew unexpectedly in August to bring the country's manufacturing sector back into growth zone with a surge in new business orders after the GST-related contraction in July, a monthly survey showed on Friday. The Nikkei India Manufacturing Purchasing Managers' Index (PMI) rebounded to 51.2 in August from a low of 47.9 in the previous month, indicating a substantial turnaround from Ju…