India private sector growth slows in May amid rising costs
India's private sector growth slowed a little in May 2026, mainly because manufacturing cooled off.
The HSBC Composite PMI dipped slightly to 58.1 from April's 58.2, but it's still above the "growth" line at 50.
Softer global demand and rising costs, especially for energy, steel, and food, played a big part, with ongoing Middle East tensions adding to the mix.
India manufacturing PMI drops to 54.3
Manufacturing took most of the hit as its PMI dropped to 54.3 and new orders grew at one of the slowest rates in nearly four years.
Exports weren't much better, posting their weakest growth in over a year and a half.
On the bright side, services managed a tiny bump up to 58.9 on the back of strong hiring—the strongest job growth in nearly a year.
Indian business confidence hits 3-month low
Even though companies faced higher input costs, they held back on raising prices for customers.
Still, business confidence slipped to its lowest point in three months as worries about expenses and weaker demand grew louder, something that could shape how India's economy performs in the months ahead.