The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 59.8 in November to 58.0 in December, marking the slowest rate of expansion since January. Notably, against the wider trend of slowing growth, services exports rose to a greater extent in December,” Lima added. Meanwhile, private sector output growth fell to an 11-month low in December. The HSBC India Composite PMI Output Index dropped from 59.7 in November to 57.8 in December, the weakest since January 2025, reflecting slowdowns in both manufacturing and services. Looking ahead, private sector companies remained optimistic about growth prospects, although the level of sentiment fell to a 41-month low, the survey added.

Source: The Telegraph January 06, 2026 07:12 UTC