India factory growth slows in October, export orders jump, PMI shows
India's manufacturing growth slowed in October, with the HSBC Manufacturing PMI falling to 54.7 from 55.1 in September, as domestic demand and hiring weakened. However, export orders rose at their fastest pace in six months, providing some support to factory activity.
India's manufacturing growth slowed in October as domestic demand eased and hiring weakened, though a surge in export orders and the softest output price pressures in nearly four years helped cushion the slowdown, a private survey showed.HSBC's India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, eased to 54.7 in October from 55.1 in September, below a preliminary estimate of 54.9.
