Survey: Manufacturing activity moderates in December

NEW DELHI: Manufacturing activity in the country eased in Dec, marking the slowest improvement in the health of the sector in two years as export orders slowed and employment in the sector moderated while business sentiment faded to its lowest in nearly three and half years, a survey showed on Monday. The HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell from 56.6 in Nov to 55.0 in Dec, signalling the weakest improvement in the health of the sector in two years. The current figure was nevertheless above its long-run average, according to the survey. The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to a questionnaire sent to 400 manufacturing sector companies.