Mfg activity touches 12-month low in Dec

India's Manufacturing Purchasing Managers' Index (PMI) slowed to a 12-month low of 56.4 in December from 56.5 in November, S&P Global said on Thursday.

- Auhona Mukherjee [e-mail]

The reading remained above its long-run average of 54.1 and the 50-mark, which indicates expansion over the previous month. The index has stayed above 50 for more than three years.

"India's manufacturing activity ended a strong 2024 with a soft note amidst more signs of a slowing trend, albeit moderate, in the industrial sector. The rate of expansion in new orders was the slowest in the year, suggesting weaker growth in future production," HSBC economist Ines Lam said.

The December reading was significantly lower than the flash PMI reading of 60.4 released in November. Factory output expansion was the weakest this year. While new export sales growth remained strong, it lagged behind the pace of total new business growth, the release said.