Indian Manufacturing activity rebounds in October

Indian Manufacturing activity rebounded in October because of higher domestic demands after six-month long slowdown. The HSBC Markit India Manufacturing PMI jumped to 52.0 in October compared to 50.4 in September. The factory output index also jumped to 52.7 in the same month after falling to 51.1 in the previous month September. Any reading more than 50 indicates growth.

With this data, the manufacturing activity rebounded from 2 and half year low in September. China has witnessed a slight drop in its manufacturing activity. Though this data is very optimistic, Indian manufacturing sector activity is expected to be lower in the coming months as well because of global slowdown and high interest rate and input cost in the domestic market.