India's private sector growth slows in November: PMI
India's private-sector growth is losing a bit of steam this November, with the latest HSBC Flash India PMI showing the Composite Output Index dipping to 59.9 from last month's 60.4.
Manufacturing is cooling off, but the services sector is still holding strong—thanks to steady demand and solid business confidence—keeping things safely above the 50-point line that signals growth.
Manufacturing slows, but services stay upbeat
Manufacturing output just saw its slowest pace since May, with the index dropping to 60.7 and overall manufacturing PMI falling sharply to 57.4.
On the flip side, services are proving resilient; their activity index actually ticked up to 59.5 despite bumps like higher US tariffs and supply chain hiccups.
Even with these challenges, private-sector firms still expect output to grow over the coming year, buoyed by competitive pricing and marketing, though overall confidence has dipped to its lowest since mid-2022.