Growth in India’s private sector eased to a five-month low in October dragged by softer demand and rising output costs, according to HSBC’s flash Composite Purchasing Managers’ Index (PMI) compiled by S&P Global. The index slipped to 59.9 from September’s final reading of 61.0,

Services slowdown drags India’s private sector growth

Despite slipping to the lowest since May, growth remained robust and well above the 50-mark separating expansion from contraction. The overall index – a seasonally adjusted index measuring the month-on-month change in the combined output of India’s manufacturing and service sectors – was mainly dragged down by a slowdown in services growth even as manufacturing activity recovered from a four-month low in September. The flash manufacturing PMI rose to 58.4 fro

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