Factory Activity in India’s Private Sector Recovers in October

• Manufacturing activity in India’s private sector recovered in October, breaking a three-month deceleration streak.
• The HSBC India Manufacturing Purchasing Managers’ Index (PMI) increased to 57.5 from 56.5 in the previous month, indicating an expansion in activity.
• 400-odd factories surveyed by S&P Global Market Intelligence reported an acceleration in output growth in October.
• Fresh export orders rebounded in October, with firms reporting new deals from clients in Asia, Europe, Latin America, and the U.S.
• Production volumes rose, driven by robust gains in consumer and investment goods.
• Inflation pressures increased as input costs rose at a three-month high pace.
• Firms ramped up hiring from September, with about 10% reporting higher staff.
• Confidence levels improved from September, with around 23% of surveyed firms expecting output growth a year ahead.