Manufacturing PMI edges up in October on sales, new orders

After an eight-month low, growth in India's manufacturing sector revived at the turn of the third quarter of the current financial year as output accelerated, driven by faster increases in total new orders and international sales, according to a private business survey released on Monday.

- SHIVA RAJORA

The HSBC final India manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 57.5 in October from an eight-month low of 56.5 in September. A figure above 50 in the index denotes expansion in activity and below signifies contraction.

"Companies noted a quicker increase in order book volumes that was stronger than the average seen in nearly 20 years of data collection. Anecdotal evidence suggested that the introduction of new products and successful marketing initiatives helped enhance sales performances," the survey noted.