India Business Activity Hits 56.5 in September as Manufacturing PMI Jumps to 55.7
Updated
Updated · Moneycontrol · Sep 23
India Business Activity Hits 56.5 in September as Manufacturing PMI Jumps to 55.7
3 articles · Updated · Moneycontrol · Sep 23
Summary
India’s HSBC flash composite PMI rose to 56.5 in September from 54.3 in August, the strongest private-sector expansion in four months.
Manufacturing drove the pickup: the flash manufacturing PMI climbed to 55.7 from 52.8, a seven-month high, as new orders accelerated and goods producers reported stronger demand across sectors from electronics to pharmaceuticals.
Hiring continued as firms added workers to meet higher output and order books, while business optimism for the coming year improved to a four-month high.
Export demand weakened even as domestic activity strengthened, with new export orders growing at their slowest pace in nearly three years, led by softer services momentum.
Input-cost inflation eased to its lowest since January, though manufacturers faced higher costs and raised factory-gate prices faster as Middle East tensions prompted some firms to build inventories.