Business
India manufacturing PMI eases to 54.7 in October
The Hindu BusinessLine·
India's HSBC Manufacturing PMI eased to 54.7 in October from 55.1 in September, S&P Global data showed. The reading stayed above the 50.0 mark that signals expansion. New export orders rose at the fastest pace in six months, HSBC's Pranjul Bhandari said. Selling price inflation cooled to its weakest level in just under four years.
Prism
What It Means For You
- Factories still reported expansion, though output growth softened from September.
- Input cost inflation fell to its lowest level since February, the survey said.
- About 18 percent of manufacturers expected higher output over the coming year.
What's Happening
- Export demand came from markets including the United States, UAE, UK and Bangladesh.
- Producers raised input inventories at the fastest pace in eight months, Bhandari said.
- Factory employment increased for a second month, though hiring stayed slight.
What the Index Measures
- A PMI above 50.0 marks expansion; below that mark signals contraction.
- The October print remained above its long-run average despite the month-on-month dip.
- Business confidence slipped from September and stayed below its long-run average.
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