India's manufacturing sector activity growth eases in October on softer rise in output, new orders

New Delhi India's manufacturing sector activity growth eased in October as output and new orders rose at softer rates, while moderate cost pressures provided support and a buffer against a sharper decline, a monthly survey said on Monday (November ). The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to 54.7 in October from 55.1 in September. Still, it remained above its long-run average and comfortably above the neutral mark of 50.0. In the Purchasing Managers' Index (PMI), a print above 50 means expansion, while a score below 50 denotes contraction. https://www.thehindu.com/business/Industry/a-measure-of-manufacturing/article23286966.ece A sustained improvement in demand was reflected in a further sharp rise in new business. Growth eased only marginally from September's seven-month high and remained strong by historical standards, the survey said.