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Factory growth slides to 18-month low in Dec
Hindustan Times
|January 04, 2024
PMI dips to 54.9 in December on slowing demand for certain types of products
Manufacturing growth, as measured by the HSBC Purchasing Managers Index (PMI), dipped to an 18-month low of 54.9 in December from 56 a month before on "slowing demand for certain types of products", according to a statement from S&P Global released Wednesday.
To be sure, the fact that the index is still above 50, means that only the pace of manufacturing growth has slowed down and there is no contraction in economic activity.
The index has stayed above 50 for thirty consecutive months now.
PMI manufacturing hit an eight-month low of 55.5 in October 2023 and showed a slight improvement in November when it increased to 56.
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