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 was at 56.4 in December, down from 56.5 in November, indicating a weaker improvement in conditions.Despite the decline, the headline figure remained above its long-run average of 54.1 thereby signaling a robust rate of growth.In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction."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," Ines Lam, Economist at HSBC, said.The manufacturing sector growth was hampered by competition and price pressures.On the price front, with container, material and labour costs reportedly rising since November, Indian manufacturers registered another increase in overall expenses. On a month-on-month basis, however, the rate of input price inflation was moderate.

India's Mfg Hits 12-Month Low

961,326,536,135,1613,2062

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