India's manufacturing PMI eases to 54.7 in October as output, new orders growth moderates
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India's manufacturing PMI fell to 54.7 in October from 55.1 in September.
- ✓The survey showed that output and new orders grew at a slower rate.
- ✓Pranjul Bhandari said, "India's manufacturing PMI softened to 54.7 in October, but remained firmly in expansionary territory." Many firms still hired more workers.
Story at a Glance
- Category
- BUSINESS
- Reported By
- FortuneIndia
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India's manufacturing activity continued to expand in October, but the pace of growth moderated as output and new orders increased at a slower rate. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) slipped to 54.7 in October from 55.1 in September, according to a monthly survey released on Monday.
Despite the decline, the index remained comfortably above the neutral mark of 50 and its long-run average, signalling sustained expansion in the manufacturing sector.
A PMI reading above 50 indicates expansion, while a reading below that level signals contraction. The moderation in the headline index came even as demand conditions remained strong. New business continued to rise sharply, although growth eased marginally from September's seven-month high. The pace of expansion remained robust by historical standards, reflecting sustained demand for Indian manufactured goods.
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FortuneIndia
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