ThinkScopeIndia's manufacturing sector slowed down in December, with the PMI slipping to 55, its lowest in 38 months. This decline indicates a loss of momentum in the sector.
The slowdown is attributed to a decrease in new orders, exports, and hiring. These factors have contributed to a reduction in factory activity, although it still remains in the growth zone.
The decline in new orders and exports suggests a decrease in demand, both domestically and internationally. This has resulted in manufacturers reducing their production levels and hiring fewer workers.
The slowdown in India's manufacturing sector may have significant implications for the country's economy. As the sector accounts for a substantial portion of India's GDP, a prolonged slowdown could impact the country's overall economic growth, leading to a potential slowdown in the coming months with a total of 200 words in this report.
