Manufacturing activity in the country bounced back and entered the expansion territory in February, says a report. The yearly SBI Composite Index for February is at 51.3, compared to last month index of 47.3. Meanwhile, the monthly Index declined to 49.5 in February, from 52.4 in January 2016. The index captures two components of the manufacturing cycle, namely, month-on-month and year-on-year growth on a scale of 0 to 100. Index above 50 implies growth over previous respective period and less than 50 suggest a contraction over a respective period.
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