India’s private sector growth slowed slightly in September but continues to reflect strong economic momentum. The Composite Purchasing Managers’ Index (PMI) dropped to 61.9 from 63.2 in August, signaling a softer yet healthy pace of expansion. Both manufacturing and services sectors reported moderation, with manufacturing PMI easing to 58.5 and services PMI to 61.6. The slowdown was attributed to weaker domestic demand and a dip in export orders, particularly in the services industry. Job creation and output growth remain positive, though slightly slower compared to the previous month. Despite the moderation, the outlook for the coming months remains optimistic. Input cost pressures have eased, but manufacturers have increased selling prices to offset higher material costs. Business confidence has strengthened, supported by expectations of higher demand during the festive season and recent GST rate cuts. Economists note that while growth has cooled, the private sector remains a crucial driver of India’s economic resilience and future expansion. #news #Newsone #IndiaEconomy #PMI #PrivateSectorGrowth #Manufacturing #ServicesSector #EconomicOutlook #IndiaGrowthStory #BusinessConfidence
