December factory activity growth hits 2024 low, PMI shows
BENGALURU, Jan 2 (Reuters) – India’s manufacturing activity grew in December at its weakest pace for the year amid softer demand and despite easing cost pressures and strong jobs growth, a survey showed, dulling the outlook for the start of 2025. 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 –