India’s private-sector growth maintains expansion in November, PMI at 59.9

India’s private-sector growth maintains expansion in November, PMI at 59.9

India’s private sector growth expanded in November but at its slowest pace in six months, with the HSBC Flash India Composite Output Index falling to 59.9 from 60.4 in October.

Though still comfortably above the 50-point threshold that separates expansion from contraction, the reading marks the lowest level for the index in six months.

The composite index, which tracks month-on-month changes in combined output across manufacturing and services, pointed to a moderation in overall growth.

The slowdown stemmed largely from a weakening in factory output, which grew at its softest pace since May. Some manufacturers reported reduced new orders during the month.

In contrast, the services sector saw a pickup, with the