India Private Sector Growth Slows as Manufacturing Eases
India composite PMI dipped to 58.1 in May as the Middle East war slowed factories. Services grew as input costs rose at the fastest rate since mid-2022.
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India private sector growth eased to 58.1 in May as manufacturing slowdowns offset a slight acceleration in the services economy. The HSBC flash Composite PMI, compiled by S&P GLOBAL INC, fell from 58.2 in April but beat the 58.0 Reuters poll forecast. Cooling global demand and Middle East conflict suggest persistent cost burdens are beginning to test the resilience of the world's fastest-growing major economy.
