India’s manufacturing PMI slips to 56.6 in Nov, job creation falls to 21-month low: HSBC

The domestic manufacturing sector saw a slowdown in November as the Purchasing Managers’ Index (PMI) eased to 56.6, down from 59.2 in October, according to the manufacturing PMI data released by HSBC.

- TDG NETWORK

Although the latest reading remains comfortably above the neutral mark of 50.0 and the long-run average of 54.2, it marks the slowest improvement in operating conditions since February.

The report also highlighted that the moderation was visible across several key indicators. Growth in new orders, output, purchasing activity and employment all expanded, but these increases were the slowest since February.

It stated “Registering 56.6 in November, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index........Falling from 59.2 in October, however, the latest figure highlighted the slowest improvement in operating conditions since February”