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PMI: Growth rate of the country's manufacturing sector was at its lowest level in 18 months in December; Revealed in the survey
PMI: HSBC India Manufacturing PMI has been prepared by S&P Global from the responses to a questionnaire sent to purchasing managers in a panel of about 400 manufacturers. The report said India's manufacturing sector continued to expand in December, although it slowed after accelerating in previous months.
India's manufacturing sector growth slowed to an 18-month low in December amid modest growth in factory orders and output despite minimal inflation. The HSBC India Manufacturing PMI survey conducted by S&P Global showed that factory orders and output have moderated but business confidence has strengthened for the period ahead.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to an 18-month low of 54.9 in December from 56 in November. In Purchasing Managers' Index (PMI) parlance, an index above 50 indicates expansion while a score below 50 indicates contraction.
The HSBC India Manufacturing PMI has been developed by S&P Global based on responses to a questionnaire sent to purchasing managers across a panel of nearly 400 manufacturers. "India's manufacturing sector continued to expand in December, although it moderated after accelerating in previous months," the report said.
Pranjal Bhandari, chief India economist at HSBC, said, "While both output and new orders growth have moderated, the futures output index, on the other hand, has increased since November. Despite the deceleration in growth, the sector recorded strong growth in December." be extended."
