India’s economic growth slowed in November as the HSBC Flash India Composite Output Index fell to 59.9 from 60.4 in October, according to S&P Global data released on Friday. The decline reflected softer manufacturing output even as services grew faster.

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• Composite PMI slipped to 59.9, lowest in six months but still strong.
•  Manufacturing output weakened to slowest pace since May.
• Manufacturing PMI fell from 59.2 to 57.4 due to softer new orders.
•  Services activity expanded faster, partly offsetting factory slowdown.
•  Export orders steady for goods but weaker for services amid global competition.
•  Overall sales growth slowed; heavy rains and weak demand affected new business.
•  Job growth slowest in 18 months as workloads and backlogs declined.
• Input costs and selling prices rose but inflation mildest in five years.
•  Businesses expect future growth, supported by pricing and expansion plans.
•  Confidence index fell to lowest level since mid-2022.