India’s manufacturing activity continued to expand in October, although the pace of growth moderated slightly from the previous month. HSBC India Manufacturing Purchasing Managers’ Index (PMI) declined at 54.7 in October, compared with 55.1 in September. However, it remained comfortably above the 50-mark. Strong export demand supported the sector, with new export orders rising at their fastest pace in six months. Meanwhile, easing input cost pressures provided some relief to manufacturers. New orders and export demand support growth New business continued to rise sharply in October, although the pace of growth eased slightly from September’s seven-month high. Manufacturers attributed the increase to favourable demand conditions, new client wins and successful marketing campaigns. Export demand provided additional support. New export orders grew at their fastest pace in six months, with Indian manufacturers reporting higher sales across markets such as the US, UK, Canada, Bangladesh, Indonesia, Nepal, Oman, Saudi Arabia, Sri Lanka and the UAE.Supported by higher sales and new product launches, manufacturers also increased production at a sharp pace. However, output growth moderated from September, mainly due to slower expansion among intermediate goods producers. This segment continued to lead overall manufacturing growth. Cost pressures eased across all three broad manufacturing segments tracked by the survey. While manufacturers reported higher prices for some raw materials and energy, the overall rate of input cost inflation fell to its lowest level since February. (ICE NEW DELHI)

Fonte notizia: Financial Express