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Economic momentum slows in Oct due to US tariffs: Flash PMI
Financial Express Mumbai
|October 25, 2025
INDIA'S OVERALL BUSINESS activity expanded at the slowest pace in five months in October, as weaker export demand—partly linked to US tariffs—tempered growth momentum, according to a survey by HSBC Holdings Plc.
Falling from 61 in September to 59.9 in October, the HSBC Flash India Composite Output Index—a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors—registered its lowest reading since May 2025. Despite signaling a softer rate of expansion, the current figure was still consistent with a historically sharp rate of growth.
This story is from the October 25, 2025 edition of Financial Express Mumbai.
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