The HSBC Markit Purchasing Managers’ Index (PMI) for November 2013, (Manufacturing) shows a return to growth territory.
Remember, values about 50 are “expansion” and below 50 is contraction. Since August we had gone to below 50, and in November the number was 51.3. This is only manufacturing – the services PMI will be out tomorrow.
What’s interesting here is what they say about inflation:
Inflationary pressures in the Indian manufacturing economy softened in November. The rate of charge inflation was slight and eased since the previous month, while purchase prices increased at the weakest pace since August.
After a very long time, I’m seeing the PMI release talk about easing input prices.