Overview

• India’s flash composite PMI eased to 61.9 in September from 63.2 in August, with manufacturing at 58.5 and services at 61.6.
• Hiring lagged output in India as only about 3% of manufacturers and 5% of service providers reported adding staff.
• Indian price signals diverged as factories raised selling prices at the sharpest pace in nearly 13 years while service-sector charge inflation cooled.
• Indian firms reported stronger sentiment linked to new GST concessions, though exporters cautioned that higher U.S. tariffs could curb demand.
• France’s flash composite PMI fell to 48.4, with manufacturing at 48.1 (output 45.9) and services at 48.9, as new orders declined for a 16th straight month and firms trimmed charges despite only marginal job gains.