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Factory growth in India cools on price pressures
The Straits Times
|December 03, 2024
India's factory growth cooled in November yet maintained a strong pace, leading to significantly improved optimism despite demand easing a bit due to higher price pressures, a business survey found.
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Asia's third-largest economy expanded 5.4 per cent in the July to September quarter, official data showed on Nov 29, led by tepid growth in manufacturing and consumption. The rate was much lower than the 6.5 per cent expected in a Reuters poll.
The HSBC final India manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 56.5 last month from 57.5 in October. A preliminary estimate was far higher at 57.3.
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