India’s private sector expansion decelerated further in July, recording its weakest growth rate since March 2022.
The HSBC flash Purchasing Managers’ Index (PMI) indicates that challenging market conditions, intensified competitive pressures, and softer demand are collectively dampening business momentum across the economy.
The slowdown represents a notable shift for one of the world’s fastest-growing major economies.
While the index remains in expansionary territory, the pace of growth has contracted significantly from previous months, signaling that the robust post-pandemic recovery is losing steam.
This deterioration in business activity suggests that companies are facing headwinds that are beginning to outweigh earlier tailwinds.
The data adds to a mixed global picture of industrial activity.