Punjab, Oct. 1 -- The HSBC India Manufacturing PMI rose to 55.1 in September from 52.8 in August - the strongest reading since February, after three straight months of slowing. Factory hiring returned to growth.
What improved
New orders grew at their fastest pace since February, led by electronics, food, pharmaceuticals and textiles. Output growth reached its best level since May.
Export orders improved too, with manufacturers reporting more business from Brazil, Europe, the UAE and the United States.
Employment went back into expansion after falling in August, at the strongest rate since May.
Why the hiring line matters most
A PMI is a survey of purchasing managers, and new orders can rise because customers are restocking rather than...