India’s manufacturing sector saw strong growth in October, with the PMI rising to 59.2 from 57.7 in September. The expansion was driven by domestic demand, GST relief measures, and easing input costs, according to S&P Global data.

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•  Manufacturing PMI rises to 59.2 in Oct, up from 57.7 in Sept.
•  Growth led by strong domestic demand, GST support, tech investments.
•  Output, new orders, and job creation see sharp expansion.
•  Input cost inflation weakest in eight months; prices stay below average.
•  Despite lower costs, output prices rise at 12-year joint-highest pace.
•  New domestic orders surge; export orders grow slower, weakest this year.
•  Purchasing of raw and semi-finished goods highest since May 2023.
•  Inventory of inputs up sharply; finished goods stock rises slightly.
•  Firms cite strong demand as main reason for stockpiling.
•  Economists see continued momentum as productivity, demand remain robust.