India Manufacturing PMI Slows to Two-Year Low in December
India’s manufacturing PMI drops to 55 in December, the slowest in two years, as output and new orders growth weaken amid rising competition and subdued demand
Jan 3, 2026 - India's manufacturing PMI fell to 55 in December from 56.6 in November, marking the slowest pace in two years. The report compiled by S&P Global highlighted that key indicators such as output, orders and sentiment showed slower growth in December.
New business in factories grew at the slowest pace since December 2023, while output growth dropped to its weakest level since October 2022. Rising competition and weak demand for certain products were major reasons, although domestic demand supported overall activity.
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