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India Oct. manufacturing PMI rebounding

11-02-2011 10:53 BJT

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India's October PMI rebounded for the first time in six months, boosted by rising domestic orders for new business.

After virtually stalling in September, the HSBC Markit India Manufacturing PMI rose to 52 points from 50.4 points in September, comfortably above that all-important 50 line. The new orders index, which is an indicator of future output, also rose - and that’s after six consecutive declines.

The factory output index also jumped to 52.7 after falling for five straight months to 51.1 in September. The data suggests that, based on month-on-month changes, September was the worst month for Indian factories since March 2009, when output shrank.

A rebound in global stock markets in October, however, could further boost confidence in Asia’s third largest economy.

Editor:Zhang Rui |Source: CNTV.CN

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