India's manufacturing growth hits 12-month low in Dec

India's manufacturing sector growth fell to a 12-month low in December, as new business orders and production expanded at softer rates, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index was at 56.4 in December, down from 56.5 in November, indicating a weaker improvement in operating conditions. Despite the decline, the headline figure remained above its long-run average of 54.1 thereby signalling a robust rate of growth.