The combined performance of India’s manufacturing and services sectors reported a slower rate of expansion as the HSBC Flash India Composite Output Index fell to 59.9 in November from 60.4 in October.

According to data released by S&P Global, the index, which tracks month-on-month changes in the combined output of the two sectors, indicated a slower rate of expansion.

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The growth slowed in November mainly because factory production grew more slowly, the weakest since May. Some manufacturers got fewer new orders, while service sector activity grew faster than in the previous month, S&P Global said.

Speaking on the development, Chief India Economist at HSBC, Pranjul Bhandari said, “The HSBC flash manufacturing PMI eased, though the improvement in operating conditions remaine

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