Output grows in India & China

FT: India’s manufacturing sector grew in April for the first time in five months, spurring hopes of an end to falling growth estimates and contracting exports. Meanwhile, the purchasing managers’ index for Chinese manufacturing published by CLSA, the Hong Kong-based brokerage, rose to 50.1 in April from 44.8 a month earlier, signalling an expansion in factory output for the first time in nine months.