India tops global factory growth, China slips again
Manufacturing sectors expanded across Asian nations during October as festive spending and policy changes lifted activity, with India maintaining its position at the front of global rankings. The HSBC manufacturing index for India climbed to 59.2 from 57.7 the previous month, marking the fifth occasion in seven months the gauge exceeded 58, according to S&P Global survey information released on a report dated for the middle of the current week.
Regional performance outside China and Japan reached a 14-month peak at 52.7, reflecting a strengthened recovery despite trade tensions. Thailand recorded its strongest reading since May 2023 at 56.6, while Vietnam hit its highest mark since July 2024 at 54.5 as export orders rebounded and tariff worries eased. Chris Williamson from S&P Global Market Intelligence noted producers in these economies reported diminishing concerns about American trade barriers.
Chinese activity softened to 50.6 from 51.2 amid declining overseas demand, while American and European zones showed modest gains or steady conditions. Maryam Baluch, an economist with S&P Global Market Intelligence, said sustained order growth and controlled price pressures could help ASEAN manufacturers maintain momentum through year-end. Values above 50 signal expansion, while figures below indicate contraction.
