New Delhi: The SBI Composite Index shown a significant growth in output both in terms of month-on-month and yearly basis in March. The monthly index has shown robust growth of 58.5 in March 2015, from 47.6 in February 2015, signalling the highest pace of growth in last 48 months.
The SBI Composite Index is an indicator for tracking India’s manufacturing activity. The monthly index had slipped from 52.6 in January 2015 to 47.6 in February 2015.
SBI said in a research note, “Robust recovery in the month on month index may be attributed to seasonal factors as March sequential momentum is always higher.” The yearly SBI Composite Index for March 2015 inched up to 54.6 from 53.5 in February 2015, a 6-month high. The Index captures two components of the manufacturing cycle – month-on-month and year-on-year-growth on a scale of 0 to 100.
