India's Manufacturing PMI rises to 55.3 in October, hiring at 33-mth high

India's factory activity expanded at a stronger pace in October as demand and output remained solid, encouraging firms to hire workers at the fastest pace in nearly three years, according to a private survey released on Tuesday.

Unlike some other economies, India has shown better resiliency to persistently-high inflation and a sinking currency against the US dollar since the start of this year.

The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to 55.3 in October from September's 55.1, better than a Reuters poll median forecast for 54.9 and remaining above the 50-level separating growth from contraction for a