India’s factory growth eases to 54.7 in October, export orders hit six-month high
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- ✓India’s manufacturing PMI eased to 54.7 in October from 55.1 in September, data released on November 2 showed.
- ✓While factory growth slowed, export orders hit a six-month high.
- ✓HSBC economist Pranjul Bhandari said the index remained firmly in expansionary territory.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
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India's manufacturing activity moderated in October, as growth in factory output and new orders slowed. The HSBC India Manufacturing Purchasing Managers' Index (PMI) eased to 54.7 from 55.1 in the previous month, data released on November 2 shows.
Despite the moderation, the index remained comfortably above the 50-point threshold that separates expansion from contraction and continued to exceed its long-run average.
The slowdown in manufacturing activity was partly offset by stronger international demand, with new export orders rising at their fastest pace in six months.
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