Key Points
India's manufacturing growth accelerated last month after a recent blip, supported by robust demand, according to a private survey that also showed input costs rose at the slowest pace in 40 months...
The findings were positive for Asia's third-largest economy, which grew a surprisingly strong 7.6% last quarter, slightly slower than the 7.8% growth seen in the April-June quarter but remaining on track to be the fastest growing major economy this fiscal year...
"India's manufacturing economy is clearly in good shape as 2023 draws to a close, with expectations for a continued strong performance in 2024," noted Pollyanna De Lima, economics associate director at S&P Global...
However, that was a seven-month low due to rising inflation expectations, the note said.. While domestic demand appeared strong, international demand took a hit, with new export orders at a five-month low...
Last month, RBI Governor Shaktikanta Das said India was vulnerable to "recurring and overlapping" food price shocks and the central bank would remain watchful to progressively align inflation to the target, while supporting growth..
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