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India’s Purchasing Managers’ Index (PMI) for manufacturing recovered slightly in October to 55.3 from 55.1 in September as growth remained robust and price pressures were contained.
The survey compiled by S&P Global reflected an improvement in employment and purchases by factories. A print above 50 in the survey indicates expansion in manufacturing activity. A score below that represents contraction.
“Firms were again able to secure additional work in October, taking the current sequence of growth to 16 months. Overall, factory orders increased at an above-trend pace that was nonetheless the weakest since June. New export orders also rose markedly, with
