India Manufacturing Activity Rises At Faster Pace

India's manufacturing sector logged a faster growth in September, as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions, survey results from IHS Markit showed on Friday.

The manufacturing Purchasing Managers' Index rose to 53.7 in September from 52.3 in August. A reading above 50.0 indicates expansion.

Underpinned by faster growth in new orders, manufacturers ramped up production in September. Data showed that global demand for Indian goods strengthened in September.

To accommodate for rising sales and progress with production schedules, companies purchased additional raw materials.

Companies forecast further growth of sales as pandemic-related restrictions continue to ease. Employment remained unchanged in September.

Rising fuel, raw material and transportation prices pushed the overall rate of input cost inflation to a five-month high. Meanwhile, output prices increased at a slower rate.

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