India factory growth slows in October
India manufacturing growth eased in October as domestic demand softened and hiring slowed. A strong jump in export orders helped cushion the slowdown alongside softer price pressures.
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India's manufacturing PMI fell to 54.7 in October from 55.1 in September as domestic demand softened, according to HSBC HOLDINGS PLC-SPONS ADR data. The headline figure compiled by S&P GLOBAL INC missed the preliminary estimate of 54.9 while remaining above the 50.0 growth threshold. The slowdown highlights easing momentum in a key regional economy as factories face tempered local consumption.
