Summary:

India’s manufacturing sector recovered in early Q3, with the HSBC Manufacturing Purchasing Managers' Index (PMI) rising to 57.5 in October from 56.5 in September. This expansion was driven by a surge in new orders and foreign sales, as businesses profited from successful product launches and marketing campaigns. Notably, new export orders increased, fueled by strengthening demand from Asia, Europe, and the United States following a slow September.

The poll found that production volumes grew, particularly in consumer and investment goods, due to favorable market conditions and robust sales pipelines. Employment in manufacturing increased, with around 10% of respondents hiring new employees, reducing backlogs for the first time in almost a year. However, inflationary pressures persisted, with input prices reaching a three-month high due to rising costs of materials, labor, and transportation, while output prices also rose significantly.

Source: IBEF 

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