India's Manufacturing Sector Growth Accelerates In September

In August, growth in India's manufacturing sector accelerated in September. The PMI reached its highest level since January 2012, helped by accelerated growth in new orders and production.

At the same time, there was a resumption of growth in export sales and inventories, and an increase in business confidence. Manufactured prices rose for the first time in six months, reflecting higher production costs.

India's seasonally adjusted manufacturing purchasing managers' index IHS Markit rose from 52.0 in August to 56.8 in September, reflecting a concurrent improvement in the sector. Moreover, the latter value was the highest in more than eight and a half years.