Dec. manufacturing slows to 18­month low, PMI survey shows

Syllabus: GS-III

Topic: Indian Economy

Issue: PMI.

Subject: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.

Context: India’s manufacturing activity slipped to an 18-month low in December 2023, as per the HSBC India Manufacturing Purchasing Managers’ Index.


  • The reading for December stood at 54.9 compared to 56 in November. A reading of over 50 on the index indicates an expansion in activity.
  • Factories’ output grew at the slowest pace since October 2022, with demand for certain types of products fading.
  • The latest reading was above the long-run series trend, but contributed to the lowest quarterly average of 55.5 since the first quarter of fiscal year 2022-23.
Purchasing Managers’ Index:·          leading economic indicator that tracks the health of a country’s manufacturing or service sector.

·          It’s based on monthly surveys of purchasing managers across various industries, who report on their perceptions of business                           conditions.

·          A value above 50 indicates expansion, while below 50 signifies contraction.

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