India’s Manufacturing Sector Maintains Expansion, Hits 18-Month Low in December PMI

India’s manufacturing sector sustained its growth momentum in December, registering a Purchasing Managers’ Index (PMI) of 54.9, marking an 18-month low, as revealed in data released on January 3.

Although a dip from November’s 56.0, the PMI remains above the crucial 50-mark, denoting continued expansion for the 30th consecutive month. S&P Global, compiler of the index, noted that the December PMI signals a notable enhancement in the sector’s health. Despite the slight decline, the reading still exceeds the long-run series trend, contributing to the lowest quarterly average (55.5) since Q1 2022-23.