November PMI: Manufacturing slips to 9-month low, private sector growth hits 6-month low
India’s private sector growth slowed in November, with manufacturing PMI dropping to a nine-month low of 57.4. However, the country’s composite PMI remained in expansionary territory at 59.9. Analysts warn of emerging sectoral softness and global headwinds, with issuer-specific fundamentals playing a larger role in credit rating actions.