India’s final HSBC manufacturing Purchasing Managers’ Index rose to 55.1 in September from 52.8 in August, according to the October 1 release reported independently by Moneycontrol, Business Standard and Reuters. Compiled by S&P Global, the reading was the strongest since February. It was below the earlier September flash estimate of 55.7, a revision of preliminary data rather than a fall from August.
The reports describe stronger new orders and a return to hiring after August’s decline. Output and employment growth were the fastest since May. Companies reported quicker increases in input costs and selling prices, although both remained below their historical average pace. The July–September average was 53.8, the weakest for that fiscal-year quarter since 2021.
S&P’s methodology treats readings above 50 as an improvement from the preceding month. A value of 55.1 does not mean factory output grew 55.1%, nor does the survey measure every factory or provide a GDP estimate. The current figures were checked across the independent reports; the original release document was not accessible.