India private sector growth slows in May amid rising costs
NewsBytes | May 21, 2026 2:39 PM CST
India manufacturing PMI drops to 54.3
Manufacturing took most of the hit as its PMI dropped to 54.3 and new orders grew at one of the slowest rates in nearly four years.
Exports weren't much better, posting their weakest growth in over a year and a half.
On the bright side, services managed a tiny bump up to 58.9 on the back of strong hiring—the strongest job growth in nearly a year.
Even though companies faced higher input costs, they held back on raising prices for customers.
Still, business confidence slipped to its lowest point in three months as worries about expenses and weaker demand grew louder, something that could shape how India's economy performs in the months ahead.
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