Mfg activity revives in Oct on strong’ demand

India’s manufacturing activity, as measured by the HSBC India Manufacturing Purchasing Managers’ Index (PMI), rose to 59.2 in October from 57.7 in September, according to a release from S&P Global on Monday.

- Auhona Mukherjee

A PMI reading above the 50-mark indicates expansion over the previous month. The index has remained above 50 for over four years now.

The PMI reading for October was also higher than the flash PMI reading of 58.4 that was released last month. Flash PMI readings include 80-90% of the responses that go in the final PMI reading.

“India’s manufacturing PMI accelerated to 59.2 in October, up from 57.7 during the month prior. Robust end-demand fuelled expansions in output, new orders, and job creation,” said Pranjul Bhandari, Chief India Economist at HSBC.