India: Composite PMI rises in November on stronger manufacturing and services sectors
The S&P Global Composite Purchasing Managers’ Index (PMI) came in at 56.7 in November, up from October’s 55.5. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in private sector operating conditions compared to the previous month.
The Manufacturing PMI came in at 55.7 in November, up from Octobers 55.3. Meanwhile, the Services PMI increased to 56.4 in November (October: 55.1). In both sectors, output and new orders rose at the fastest rate in three months; employment and input purchases also increased. Looking at prices across both sectors, in November, input inflation fell to a two-year low, while output inflation rose to a three-month high. Finally, sentiment in both sectors was at a near eight-year high.