India India's manufacturing Lsector growth in December 2023, measured by the HSBC India Manufacturing Purchasing Managers' Index (PMI), registered an 18-month low of 54.9 in December, with growth reportedly curbed by fading demand for certain types of products.
In a similar vein to the trend for output, new orders placed with Indian manufacturers rose sharply but to a lesser extent in December. The pace of expansion was the slowest seen in a year and a half. According to the seasonally adjusted HSBC India PMI data, a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter was evidenced by only a marginal uptick in outstanding business volumes.
This story is from the January 04, 2024 edition of The Business Guardian.
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This story is from the January 04, 2024 edition of The Business Guardian.
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