New Delhi, Jan 03 : India’s manufacturing sector activity continued to expand in December, although the HSBC Purchasing Managers’ Index (PMI) came in at an 18-month low of 54.9, data released on January 3 showed.
At 54.9, the December manufacturing PMI is well below 56.0 posted in November. However, despite the fall, the gauge of manufacturing sector activity in December was above the key level of 50, which separates expansion in activity from contraction, for the 30th month in a row.
According to S&P Global, which compiles the index, the December PMI print was “indicative of a marked improvement in the health of the sector”.
“The latest reading was above the long-run series trend, but contributed to the lowest quarterly average (55.5) since Q1 2022-23,” it added.
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