Inde PMI manufacturier

The HSBC India Manufacturing PMI stood at 57.5 in October 2024, compared with the flash estimate of 57.4 and after September's reading of 56.5. Output growth accelerated amid favorable market conditions, with new orders rising at a rate stronger than the average in nearly 20 years of data collection. Also, foreign sales grew robustly after experiencing the weakest rise in 1-1/2 years in September, and buying levels continued to expand. Regarding employment, firms hired additional staff, leading to the first decline in backlogs in over a year. Meanwhile, input delivery times shortened for the eighth month, although only slightly, as the vast majority of panelists reported no change in vendor performance. On the pricing side, input costs rose the most in three months but remained below the long-run trend. Meanwhile, output prices increased solidly, outpacing the series trend. Finally, the level of positive sentiment was above the average in the over 13-1/2 year of series history.