Factory activity eases to 54.7 in October, but export orders hit a six-month high
3 November 2026 · 2 min read · HireHo
Based on the HSBC India Manufacturing PMI for October 2026, compiled by S&P Global and reported by ANI and Business Standard on 2 November 2026. Summarised in our own words.
54.7PMI, October 2026
55.1September 2026
6-month highpace of export order growth
60th monthin a row above 50
India's manufacturing PMI fell to 54.7 in October 2026 from 55.1 in September. A reading above 50 means factories are growing. October was the 60th month in a row above that line. The early estimate was 54.9.
What the survey found
- Factory output kept rising strongly, but more slowly than in September.
- New export orders grew at their fastest pace in six months. Domestic demand growth eased from September's seven-month high.
- Factories added staff for a second month, but only slightly. Business Standard reports that capital goods makers cut jobs.
- Input cost inflation was the lowest since February. Selling price rises were the weakest in nearly four years.
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Pranjul Bhandari, HSBC's chief India economist, said the PMI softened but strong global demand kept output growing.
What this means for you
- A growing factory sector keeps work going for loaders, packers, drivers and warehouse staff.
- Hiring at factories is slow, so do not expect a sudden rise in openings.
- Falling input costs can help employers keep pay steady.
The PMI is a survey of purchasing managers. It shows direction, not the number of jobs.
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SourcesANI: India's manufacturing PMI eases to 54.7 in October, export orders hit six-month highBusiness Standard: Manufacturing PMI dips in October as output, orders see slow growthHireHo explains these reports in its own words. Figures belong to the sources above.
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