India's factory growth climbs to 7-month high on surging demand, PMI shows
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India's manufacturing sector expanded sharply in September, reaching a seven-month high.
- ✓The HSBC India Manufacturing PMI rose to 55.1 as robust demand boosted factory activity and hiring.
- ✓Pranjul Bhandari said, "Companies bought more materials and built up stocks to prepare for anticipated sales." Business confidence also hit a four-month high.
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- MARKET
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- cnbctv18
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- 2 Minute(s)
- Market Focus
- India Economy
India's manufacturing sector expanded sharply in September, ending a three-month slowdown. The HSBC India Manufacturing PMI rose to 55.1, driven by robust demand, increased hiring, and higher business
India's manufacturing sector expanded sharply in September, ending a three-month slowdown as robust demand drove the fastest growth in factory activity in seven months, revived hiring and lifted business confidence, a private survey showed on Thursday.
The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, jumped to 55.1 in September from a five-year low of 52.8 in August but was lower than a preliminary estimate of 55.7. The reading was the highest since February.
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