The HSBC Flash India Composite Output Index, which tracks the combined performance of the country's manufacturing and services sectors, slipped to 59.9 in November from 60.4 in October, hitting a six-month low, according to data released by S&P Global.
India's private sector growth eased in October as activity expanded at the slowest pace in five months, led by a slowdown in the services economy, according to the HSBC Flash India PMI press release.
Operating conditions across India's private sector continued to improve in July, with the latest HSBC 'flash' PMI data showing sharp expansions in total sales, export orders and output levels, according to S&P Global.
India's private sector activity expanded sharply in May, reaching its highest pace in over a year, driven by a robust performance in the services sector.
The seasonally adjusted HSBC Flash India Composite Output Index rose to 60.6, up from 57.7 in January, marking its strongest pace of growth since August 2024 and remaining well above its long-term average.
The latest HSBC PMI data, compiled by S&P Global, showed that a stronger expansion in the manufacturing industry in India was more than offset by a loss of growth momentum in the service economy.