(RTTNews) – India’s manufacturing sector growth eased in December, but the pace of expansion remained robust amid substantial, albeit slower, gains in sales and output, survey results from IHS Markit showed on Monday.
The manufacturing Purchasing Managers’ Index fell to 55.5 in December from 57.6 in November. A score above 50.0 indicates expansion.
The quarterly reading was 56.3, the highest score since the final quarter of fiscal year 2020/21.
New orders increased further in December and production rose at a sharp pace.
The rate of inflation eased to the lowest in three months in December and output charges increased, with the overall rate of inflation being the weakest since October 2020.
The overall degree of optimism remained below its long-run average.
Employment declined in December and input inventories expanded. Lead time increased and new export orders rose for the sixth straight month.
“The last PMI results of 2021 for the Indian manufacturing sector were encouraging, with the economic recovery continuing as firms were successful in securing new work from domestic and international sources,” Pollyanna De Lima, economics associate director at IHS Markit, said.