Business at a 4-month high (PMI 56.7), but hiring is the weakest this year
27 October 2026 · 2 min read · HireHo
Based on the HSBC Flash India PMI for October 2026, as reported on 23 October 2026. Summarised in our own words.
A PMI (Purchasing Managers' Index) is a monthly survey of companies. A reading above 50 means business is growing. The HSBC flash estimate for October 2026 shows the composite reading at 56.7, up from 55.9 in September and the best since June.
Orders are growing
New export orders rose at their fastest pace in six months, with demand from the United States, the United Kingdom, the Middle East and Bangladesh. Services activity rose to 56.2. Manufacturing slipped slightly to 54.9, though factory output grew faster.
Hiring has stalled
Private-sector hiring rose only marginally, the weakest pace of 2026. Services firms kept staff numbers unchanged, ending nine straight months of job creation. Manufacturers kept hiring, but more slowly. Backlogs of work fell for the third time in four months.
What this means for you
- Hiring may stay slow for a few weeks even as companies get busier.
- Export-linked factories may need workers first, as foreign orders grow.
- Keep applying, and keep your skills and documents ready for when hiring picks up.
This is a flash (early) estimate from a survey. Final figures are released later and can differ.