Follow Us
- US NSA Waltz calls on PM Modi in Washington
- U.S Director of National Intelligence calls on Prime Minister
- Pariksha Pe Charcha: Technology should be a tool, not a crutch, say experts
- No women make list of top 100-paid athletes topped by Ronaldo
- Finance Minister Sitharaman tables new Income Tax bill in Lok Sabha
India's manufacturing growth hits 12-month low in December
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 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.
"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.
Lam said there was some uplift in the growth of new export orders, which rose at the fastest pace since July.
"Although new export sales rose at a slower rate than total new business, the pace of growth for the former strengthened as firms were able to secure international orders from across the globe," the survey said.
Ongoing improvements in new work intakes prompted manufacturing companies in India to purchase additional inputs for use in production processes and on the job front, around one in ten companies recruited extra staff, while fewer than 2 per cent of firms shed jobs.
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 by historical standards.
The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.
Looking to 2025, Indian manufacturers were confident of a rise in output. "Optimism reflected advertising, investment and expectation of favourable demand. Sentiment was nevertheless curbed by concerns around inflation and competitive pressures," the survey said.
Finance Minister Sitharaman tables new Income Tax bill in Lok Sabha
Mongolia's inflation rate climbs to 9.6 pct in January
Rupee on historic decline! Falls 45 paise to Rs 87.95 per dollar
RBI cut in repo rate to 0.25%,loan EMI to come down
Budget 2025:No words like inflation and unemployment from Finance Minister: Shashi Tharoor
-
President's rule imposed in Manipur -
Trump issues order to ensure U.S. diplomatic personnel follow his agenda -
5 rescued after fishing boat capsizes off S. Korea's southern island -
Syria's interim new gov't to be formed in March: FM -
Israel threatens to end ceasefire if hostages not released -
Constantine Tassoulas elected as Greece's new president -
Priyanka Gandhi's jibe at Nirmala Sitharaman : 'I don't know in which planet she is living on' -
Rupee on historic decline! Falls 45 paise to Rs 87.95 per dollar -
Manipur: Sensing no-confidence motion, N. Biren resigned from CM post -
BJP govt at the centre weakening Constitution and democracy: Priyanka Gandhi -
PM Modi Assures World-Class Infrastructure for Delhi -
Kejriwal defeated Kejriwal : Know the reason why AAP collapsed -
BJP returns to power in Delhi after 27 years, defeating incumbent AAP -
Delhi mandate was against AAP’s politics of deceit, not a win for PM : Congress -
Delhi Assembly Elections 2025: Counting of votes begins at 8 a.m.

