India's HSBC PMI Composite Index Falls to 58.4 in January from Previous 59.5
India's HSBC PMI Composite index declined to 58.4 in January from 59.5 in the previous month, representing a 1.1-point decrease. Despite the monthly decline, the reading remains well above the 50.0 expansion threshold, indicating continued robust growth in private sector business activity. The PMI Composite serves as a key economic indicator combining manufacturing and services sector performance.
*this image is generated using AI for illustrative purposes only.
India's HSBC PMI Composite index recorded 58.4 in January, showing a decline from the previous month's figure of 59.5. The latest reading reflects a moderation in the pace of economic expansion, though it continues to signal robust growth in private sector business activity.
PMI Performance Overview
The January PMI data presents the following comparison:
| Period: | PMI Reading |
|---|---|
| January: | 58.4 |
| Previous Month: | 59.5 |
| Change: | -1.1 points |
Economic Significance
The PMI Composite index serves as a crucial barometer of economic health, combining data from both manufacturing and services sectors. A reading above 50.0 indicates expansion, while below 50.0 suggests contraction. At 58.4, the January figure demonstrates that India's private sector continues to experience solid growth momentum.
Market Context
The month-on-month decline of 1.1 points represents a moderation from the previous month's stronger performance. However, the index remains well within expansion territory, suggesting sustained business confidence and economic activity across key sectors of the Indian economy.
The HSBC India PMI Composite provides valuable insights into business conditions and is closely monitored by policymakers, investors, and analysts as an early indicator of economic trends in one of the world's fastest-growing major economies.
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