Business
India manufacturing PMI rises to 55.1 in September
Business Standard··1 Oct
The HSBC India Manufacturing PMI rose to 55.1 in September from 52.8 in August, the highest reading since February. The figure was below a preliminary estimate of 55.7. New orders rose at the fastest pace since February, and employment expanded at its strongest rate since May. A PMI reading above 50.0 indicates growth in activity.
Prism
What It Means For You
- Factory hiring resumed after an August decline that was the first drop in factory jobs in two-and-a-half years.
- Export demand cited clients in Brazil, Europe, the UAE and the US.
- Input cost inflation rose but remained below its long-run average, the survey said.
What's Happening
- S&P Global compiles the HSBC India Manufacturing PMI.
- Output expansion was the strongest since May, supported by new business orders.
- Finished-goods inventories recorded their second-largest increase in nearly 12 years, HSBC's Pranjul Bhandari said.
What 50 Means On PMI
- Readings above 50.0 signal expansion in manufacturing activity.
- August's 52.8 print was described as a five-year low before the September rebound.
- Business confidence rose to a four-month high in September.
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