The HSBC India Manufacturing Purchasing Managers Index (PMI) declined to 56.5 in November from 57.5 in October. This figure was below the market consensus of 57.3.
"India recorded a 56.5 manufacturing PMI in November, down slightly from the prior month, but still firmly within expansionary territory. Strong broad-based international demand, evidenced by a four-month high in new export orders, fuelled the Indian manufacturing sector's continued growth,” said Pranjul Bhandari, Chief India Economist at HSBC.
India’s foreign exchange reserves declined USD 1.31 billion to USD 656.582 billion for the week ended November 22, the RBI said on Friday.
The US manufacturing improved more than expected in November but continued to indicate a contraction. The US ISM Manufacturing PMI climbed to 48.4 in November from 46.5 in October, better than the estimation of 47.5.
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