Mumbai: The country’s manufacturing activity expanded at a slower pace in December as growth in new orders and output waned, despite factories cutting their prices, a private survey showed on Wednesday. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, declined to 53.2 in December. But that was above the 50 mark, which separates growth from contraction, for a 17th month and manufacturing activity registered its strongest quarterly performance since late 2012.
The manufacturing PMI “indicated that the sector ended 2018 on a high, with growth stronger than seen at the start of the year,” noted Pollyanna De Lima, principal economist at IHS Markit.“Output continued to rise strongly, in line with a robust upswing in sales. Companies benefited from rising international demand for Indian goods, as export orders expanded for the fourteenth straight month.”
