Pvt sector growth set to cool in Nov: Flash PMI

Growth in India’s private sector business activity, as seen in the Flash Purchasing Managers’ Index (PMI), eased to 59.9, down from a final reading of 60.4 in October, according to data released by S&P Global on Friday.

- Auhona Mukherjee

The November Flash PMI came in at 59.9.

(REUTERS)

If the index is 59.9 when finalised, it would be the lowest since May, when it was 59.3.

The slowdown in November was mainly on account of a slowdown in the manufacturing sector, which pulled down overall output and new orders.

To be sure, the November Flash PMI reading was above the 50-mark, which indicates expansion over the last month. The final reading for the index has remained above 50 for four years now.

The HSBC Flash India Composite PMI Output Index is compiled by S&P Global from 80%-90% of the responses from a panel of around 400 manufacturers and 400 service providers that feed that final PMI numbers. The index measures output growth in manufacturing and services sectors.