India's manufacturing PMI eases to 54.7 in October as export orders hit six-month high
India's manufacturing PMI dipped to 54.7 in October, signaling a slight slowdown in growth compared to September. Despite this, strong export demand and increased inventory building helped maintain a positive outlook for the sector.
Why it matters
The PMI is a key indicator of economic health; while growth is moderating, the resilience of export orders suggests sustained global demand for Indian goods.
India's manufacturing activity expanded at a slower pace in October as growth in output and new orders moderated, although stronger overseas demand supported production and helped cushion the slowdown.Factory employment continued to rise, while input cost inflation eased to its lowest level since February, a monthly survey showed on Monday.The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 54.7 in October from 55.1 in September.Despite the decline, the index remained above its long-run average and comfortably higher than the neutral mark of 50, which separates expansion from contraction.Growth in new business remained strong, although it eased marginally from September's seven-month high.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in