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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


India's Manufacturing Economy Returns to Growth

Monday, December 02, 2013 > 11:49:33

(RTT News)

India's manufacturing sector returned to growth in November with new orders leading companies to raise their production, survey data from Markit Economics showed Monday.

The HSBC Purchasing Managers' Index rose to 51.3 from 49.6 in October. Although indicative of a slight improvement in operating conditions, this was the first reading above 50.0 recorded since July.

Strengthened demand resulted in new order growth and the increase in work intakes ended a five-month period of contraction. Further, manufacturing employment increased for the second month running in November. But the pace of job creation remained marginal.

Moreover, inflationary pressures in the Indian manufacturing economy softened in November.

"Encouragingly, input and output price inflation eased, which, if sustained, could imply that the RBI is getting closer to the end of its tightening cycle, although it may still need to notch rates up a bit further," said Leif Eskesen, chief economist for India & ASEAN at HSBC.

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