India's Manufacturing Activity Accelerates in September, HSBC-S&P Survey Shows
MT Newswires Live
Yesterday
Manufacturing activity in India expanded in September, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) growing to 55.1 from 52.8 in the previous month, according to data compiled by S&P Global and released on Thursday.
The reading missed the consensus forecast of 55.7 tracked by Investing.com. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.
The latest performance was driven primarily by stronger demand from electronic, food, pharmaceutical, and textile products that drove new business, as well as an expansion in new export orders from Brazil, Europe, the UAE, and the US.
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