Moneycontrol Advance Business Index 101.7 in October as manufacturing weakens
Business
Moneycontrol's Advance Business Index slipped to 101.7 in October, hinting at a slowdown mostly because manufacturing took a hit: two-wheeler sales dropped nearly 10% and four-wheeler growth barely crossed 3%.
Even so, the index is still above its long-term average.
Services, industrial activity and hiring rise
On the brighter side, services are picking up with the Services PMI rising to 55.8.
Industrial activity is buzzing too: diesel use jumped 12% and coal production soared 19.2%.
Plus, goods transport saw a big boost with e-way bills up by 23.1%, and hiring is on the rise with the Naukri JobSpeak Index indicating a 14.4% recovery in hiring activity.