Overview
- The HSBC India Services PMI slipped to 58.9 in October, a five‑month low that still signaled solid expansion above both 50 and its long‑run average.
- Manufacturing activity rose to 59.2, with firms citing demand tied to recent GST cuts and festive‑season buying.
- India’s composite PMI eased to 60.4 from 61.0 in September, reflecting a services‑led moderation in overall output growth.
- Surveyed companies reported softer price pressures, with input costs at a 14‑month low and output charges at a seven‑month low, crediting GST changes.
- Businesses remained optimistic about the next 12 months, added staff to handle new work, and saw exports grow at a slower yet solid pace.