As per the survey, the upturn in jobs was the slowest in four months, while backlogs were accumulated to the quickest extent since May.
NEW DELHI: India’s manufacturing activity expanded at a slower pace in December as growth in new orders and output moderated, despite factories cutting their prices, a private survey showed on Wednesday.
The Nikkei Manufacturing Purchasing Managers’ Index declined to 53.2 in December from 54 in November.
A reading of over 50 on this survey-based index indicates expansion, below that contraction.
The manufacturing PMI “indicated that the sector ended 2018 on a high, with growth stronger than seen at the start of the year,” said Pollyanna De Lima, principal economist at IHS Markit and author of the report.
As per the survey, the upturn in jobs was the slowest in four months, while backlogs were accumulated to the quickest extent since May.
ADVERTISEMENT
“Meanwhile, job creation weakened, with companies perhaps cautious about making hiring decisions ahead of next year’s elections and a less upbeat optimism towards the outlook,” De Lima said.
Manufacturing activity at 3-month high in May despite cost woes
