India's manufacturing output at five month high

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    India's manufacturing output at five month high
    India's manufacturing sector showed activity increasing to the highest level in the last five months, with the seasonally adjusted HSBC Purchasing Managers' Index rising to 53.7 in November, up from 52.9 in October.
     

    The latest reading indicated a further improvement in the health of the Indian manufacturing sector. "Output growth was signalled in the Indian goods-producing sector for the forty-fourth consecutive month. Furthermore, the rate of expansion was solid, and the fastest in five months. According to monitored companies, an increase in order book volumes combined with a depletion of post-production inventories resulted in higher output.," a press release from HSBC PMI states.

    "New orders and export sales both increased at manufacturing companies in India during November. Rates of expansion were solid. Whereas order book volumes expanded at the fastest rate since June, growth in new export orders was the sharpest in five months. Demand was reportedly stronger in both domestic and international markets," the release adds

    Job creation was recorded in the Indian manufacturing sector in November for the ninth successive month. "However, the pace of expansion was only slight. Meanwhile, the volume of work-in-hand (but not yet completed) increased amid reports of persistent powercuts.

    There was also evidence of labour shortages at some units. Backlog accumulation has been recorded in each of the past four months."
    In line with higher input costs, prices charged by manufacturers in India increased during November. Rates of inflation were robust, and faster than in October. Anecdotal evidence suggested that higher raw material and diesel costs led to the latest increase in input prices.

    GoodReturns.in

    Read more about: hsbc pmi
    Story first published: Monday, December 3, 2012, 10:58 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more