India’s Manufacturing Activity Slows to Two-Year Low in December as Demand Momentum Eases: PMI
India’s manufacturing sector recorded its slowest growth in two years in December , as softer domestic and export demand weighed on new orders and production, according to a monthly survey released on Friday. India’s Manufacturing Activity Slows to Two-Year Low in December as Demand Momentum Eases: PMI The HSBC India Manufacturing Purchasing Managers’ Index (PMI) declined to 55.0 in December , down from 56.6 in November , marking the lowest reading since December 2023 , data compiled by S&P Global showed. Despite the slowdown, the index remained above the 50-point threshold , which separates expansion from contraction, indicating that manufacturing activity continued to grow, albeit at a more moderate pace. Slower Growth in Orders and Output Manufacturers reported continued expansion in new orders and output , but at reduced rates. Firms cited competitive pressures and weaker sales across certain product categories as key factors behind the deceleration. “Even with gro...