India's manufacturing sector growth fell to a 12-month low in December, as new business orders and production expanded at softer rates, a monthly survey said on Thursday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, down from 56.5 in November, indicating a weaker improvement in operating conditions.
Despite the decline, the headline figure remained above its long-run average of 54.1 thereby signalling a robust rate of growth.
In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
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