India's manufacturing growth slumped to a 25-month low in November due to lower demand, higher input costs, and softening output. The Nikkei Manufacturing Purchasing Managers' Index declined to 50.3 in November, its fourth consecutive monthly decline. While new orders and production continued to increase, the rates of growth were the weakest in 25 months. Stocks of purchases also declined for the first time in one-and-a-half years, associated with falling quantities of inputs bought.