Manufacturing PMI rises to 59.2 in October on robust demand

Showing an improvement in the health of the sector, India’s manufacturing sector performed well in October as Purchasing Managers’ Index (PMI) rose to 59.2, S&P Global reported on Monday. This was also 12 th successive month of job creation.

PMI was 57.7 in September. The index is derived on the basis of responses from purchasing managers of 400 companies. Index above 50 means expansion, while below 50 index denotes contraction.

“Robust end-demand fuelled expansions in output, new orders, and job creation. Meanwhile, input prices moderated in October while average selling prices increased as some manufacturers passed on additional cost burdens to end-consumers,” Pranjul Bhandari, Chief India Economist at HSBC said.

The report, prepared by S&P Global, highlighted that GST reforms