06.01.202605:06:24UTC+00India Composite PMI Revised Lower

In December 2025, the HSBC India Composite PMI fell to 57.8, below the preliminary estimate of 58.9, and down from 59.7 in November. This latest figure represents the lowest point since the start of the year, indicating reduced momentum in both the manufacturing and services sectors. New orders increased at the slowest rate in 25 months, with a deceleration in momentum noted among both goods producers and service providers. Concurrently, job creation came to a halt at the composite level, highlighting weaker hiring in manufacturing and slight job reductions in the services sector. In terms of pricing, input costs and output charges saw only modest rises, with inflation rates remaining relatively stable and below their long-term averages. Looking forward, while business sentiment remained positive, confidence fell to a 41-month low, reflecting a cautious stance despite the generally expansionary conditions.