PMI Survey: Manufacturing and service sector output slowed in September, the weakest figure ever in 2024
New Delhi| Combined production in India’s manufacturing and service sectors declined in September. The HSBC Flash India Composite PMI Output Index fell to 59.3 from 60.7 in August. This information came to light in the survey released on Monday. HSBC Flash India Manufacturing PMI also declined in the survey. It dropped to 56.7 from 57.5 in August.
In this survey the business conditions of the factory are assessed. Under this, new orders, output, employment, delivery time of the supplier and inventory levels are taken into account. Production and new orders continued to rise, but the pace was the slowest since early 2024, the survey said.
“The latest HSBC ‘flash’ PMI survey compiled by S&P Global indicated continued strong growth in India and the private sector in September, although both production and new orders have grown at the slowest rates so far in 2024”, the survey said It said inflation rates remained relatively low for both input costs and output prices, with service providers raising their charges at the slowest pace in more than two and a half years.
