India's Dec factory activity growth hits 2024 low, PMI shows
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That confounded a preliminary reading showing faster expansion last month in a sector that accounts for about a fifth of overall output in Asia's third-largest economy, which grew at its weakest pace in seven quarters in July-September.
The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 56.4 — the weakest since December 2023 — little changed from November's 56.5 but below an early estimate that showed a rise to 57.4.
Still, manufacturing output has shown sustained expansion with the index remaining above 50, which separates growth from expansion, for the past three-and-a-half years.
«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,» said Ines Lam, economist at HSBC.
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