India factory output climbs to four-month high in May

India's factory output rose to a four-month high in May on increased demand, a survey showed on Monday, in a further boost for the economy after data showed it was outgrowing China. Banking giant HSBC said its purchasing managers index (PMI) increased to 52.6 points last month from 51.3 in April. According to the survey, seen as a harbinger of industrial expansion and economic health, a reading of more than 50 points suggests expansion while anything below indicates contraction.