Factory growth climbs to 7-month high on surging demand, PMI shows
The HSBC India Manufacturing PMI jumped to 55.1 in September from 52.8 in August — the fastest factory expansion in seven months, ending a three-month slowdown. New orders grew at the fastest pace since February and hiring expanded at its strongest rate since May.
India's factory activity hit a seven-month high in September as demand surged, the HSBC India Manufacturing PMI showed on Oct 1, rising to 55.1 from 52.8 in August and ending a three-month slowdown.
New orders grew at the fastest pace since February, export orders accelerated on demand from Brazil, Europe, the UAE and the US, and hiring expanded at its strongest rate since May.
Business confidence rose to a four-month high, offering a bright spot on a day the equity benchmarks closed lower for the fourth straight session.
