Business · Economy · 2 hrs ago
India manufacturing growth eases in October as export orders rise
India’s manufacturing growth slowed slightly in October, with the HSBC India Manufacturing PMI falling to 54.7 from 55.1 in September.
The PMI measures changes in business activity; readings above 50 indicate the sector is still expanding.
Output and new orders continued to rise, but more slowly than in September, when new business growth reached a seven-month high.
Export orders hit a six-month high, as manufacturers reported stronger demand from several overseas markets.
Input cost inflation fell to its lowest level since February, and selling price rises were the weakest in nearly four years.
Factories added jobs for a second month and built inventories, though hiring growth eased and input purchasing expanded at its slowest pace in 64 months.
Manufacturers’ confidence remained below its long-run average, and the survey gave no specific next step for the sector.
India’s manufacturing PMI fell to 54.7 in October from 55.1 in September, as output and new orders grew more slowly.
The index remained above 50, indicating continued expansion.
New export orders grew at their fastest pace in six months.
Input cost inflation fell to its lowest level since February, while selling price increases were the weakest in nearly four years.
Employment rose for a second consecutive month, but job creation slowed and business confidence weakened.
- Who
- Indian manufacturers, measured by the HSBC India Manufacturing PMI survey.
- What
- Manufacturing growth eased in October, while export orders reached a six-month high.
- When
- October 2026; the survey results were reported on November 2.
- Where
- India.
- Why
- Output and new orders grew more slowly, while strong international demand and easing price pressures supported activity.
This story does not have two clearly opposing sides.
The manufacturing PMI stood at 55.1, and new business growth reached a seven-month high.
The PMI fell to 54.7 as output and new orders grew more slowly, while export orders reached a six-month high.
The October survey results were reported.
- PMI in October
- 54.7
- PMI in September
- 55.1
- Export orders
- Fastest growth in six months
- Input cost inflation
- Lowest since February
- Selling price increases
- Weakest in nearly four years
- Factory employment
- Increased for a second consecutive month
4 sources
India's manufacturing sector activity growth eases in October on softer rise in output, new orders
India’s manufacturing growth stays strong as price pressures ease: PMI Manufacturing survey
India factory growth slows in October, export orders jump, PMI shows
Manufacturing PMI eases to 54.7 in October despite strong export demand
What people are saying
strong international demand pushed growth of new export orders to a six-month high, supporting a robust rise in output.
Producers also increased input inventories to the greatest extent in eight months, building precautionary buffers to mitigate potential shortages and meet rising production requirements amid a volatile global environment.
Producers also increased input inventories to the greatest extent in eight months, building precautionary buffers to mitigate potential shortages and meet rising production requirements amid a volatile global environment.