India's manufacturing growth moderates in October, PMI falls to 54.7

New Delhi, Nov 2 (UNI) India's manufacturing sector witnessed a marginal slowdown in October, with factory activity easing as growth in production and new orders moderated. However, stronger overseas demand provided support to the sector, with export orders recording their fastest expansion in six months. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, declined to 54.7 in October from 55.1 in September. Despite the fall, the index remained well above the 50-mark, which separates expansion from contraction, signalling that manufacturing activity continued to grow at a healthy pace. The survey indicated that domestic manufacturers benefited from…