Manufacturing surges in October, but job losses persist
The Hindu
Producers recorded the strongest improvement in overall operating conditions since February, and business optimism hit a six-month high.
India’s manufacturing sector expanded for the fourth month in a row in October, with the IHS Markit Purchasing Managers’ Index (PMI) rising to 55.9 from 53.7 in September.
Manufacturing jobs continued to decline even though producers recorded the strongest improvement in overall operating conditions since February, and business optimism hit a six-month high. A reading of 50 on the PMI indicates no change in output levels.
Overall new orders grew at the fastest pace in seven months, while factory output also increased at the strongest pace since March. New export orders surged at a solid pace as well, the quickest in three months, IHS Markit said.
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