October manufacturing PMI rises to 55.3 despite cost headwinds.
- October industrial activity in India increased although pricing pressures remained low.
- On November 1, S&P Global’s Purchasing Managers’ Index indicated India’s manufacturing PMI climbed to 55.3 from 55.1 in September.
- A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction. This is the 16th consecutive 50-plus print for the manufacturing PMI.
- S&P said employment and buying stocks drove the headline PMI figure up.