S&P Global's manufacturing Purchasing Managers' Index increased slightly from a three-month low of 55.1 in September to 55.3 in October. The boost in the headline statistic was mostly due to faster gains in employment and stockpiles of purchases, according to S&P Global.
A reading of the Purchasing Managers' Index (PMI) above 50 implies increased activity, while a number below 50 indicates decreased activity. According to Pollyanna De Lima, economics associate director at S&P Global Market Intelligence, "the Indian manufacturing industry again showed signs of resilience in October, with factory orders and production rising significantly despite losing growth momentum." According to S&P Global, businesses were able to get more work in October, bringing the current streak of growth to 16 months.
Along with a "marked" increase in new export orders, the pace of expansion accelerated. Manufacturing activity increased as a result of rising demand and advanced technologies. According to Dea, the category with the highest performance in October was consumer products, which saw increases in output, overall sales, and exports. According to S&P Global, input purchases for manufacturing companies increased significantly in October but at the slowest rate in 14 months. According to S&P Global, pricing pressures haven't moved much since September in terms of inflation.
The total rate of cost inflation was higher than that recorded during the previous survey period and was the second-weakest in two years. "Manufacturers then restricted pricing increases to output levels. Charge inflation slowed to its lowest level since February "It read.
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