India's factory growth hits 7 month high in September, thanks to demand and hiring boost
In September, India's manufacturing sector experienced significant progress with rising demand and production levels. The HSBC India Manufacturing Purchasing Managers’ Index climbed to 55.1, reflecting vibrant business activity. Companies increased their hiring practices at the quickest rate since May, projecting a more positive outlook. Growth in new orders resulted in higher inventories,…
India's factory growth surged to a seven-month high in September, driven by increased demand and hiring, according to HSBC's Manufacturing Purchasing Managers' Index (PMI). The PMI climbed to 55.1 from 52.8 in August, signaling expansion in the sector. Stronger new orders and exports from clients in Brazil, Europe, the UAE, and the US contributed to the boost in production.
Hiring also resumed at its fastest pace since May, with manufacturers becoming more optimistic about the future. The rise in factory employment and positive sentiment marked the strongest improvement in seven months. Additionally, finished goods inventories increased for the third consecutive month, signaling a shift from leaner stock levels.
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