India’s manufacturing sector remained steady on the back of new orders and an increase in global demands. The HSBC Purchasing Managers’ Index (PMI)—a composite indicator designed to give a snapshot of operating conditions in the manufacturing economy—posted 52.8 in September, unchanged from the reading in August, and pointing to a further improvement in the health of the manufacturing sector.
The survey showed that output expanded solidly and at a faster rate than August. Panel members linked the latest increase to stronger demand. Order book volumes increased for the forty-second successive month amid reports of stronger demand, good product quality and increasing marketing. New export orders increased for the first time since June. The pace of growth was solid. Anecdotal evidence indicated good product quality and stronger demand from international markets had supported the rise in foreign orders.
No comments:
Post a Comment