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India’s manufacturing PMI grows at five-month high in November

03 Dec 2012 Evaluate

Indicating further improvement in the health of the Indian manufacturing sector, the seasonally adjusted HSBC Purchasing Managers’ Index, a composite indicator of operating conditions in the manufacturing economy posted a good advancement in November, surging to their five-month high to 53.7 from 52.9 in October.

With this numbers, Indian goods-producing sector has shown output growth advancement for the forty-fourth consecutive month, backed by increase in order book volumes combined with a depletion of post-production inventories.

As per the report, new orders and export sales both increased at manufacturing companies in India during November. While, order book volumes showed fastest expansion since June, the new export orders reported sharpest growth in last five months. Demand was reportedly stronger in both domestic and international markets. In line with higher input costs, prices charged by manufacturers too increased during November.

Indian manufacturing companies increased their input buying during November for the straight 44-month and the pre-production inventories at manufacturing firms increased in November continuing since May. Despite a slow pace, job creation in the Indian manufacturing sector was recorded for the ninth successive month in November.

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