New Delhi, March 24 -- India's private sector activity expanded at its slowest pace in nearly three-and-a-half years in March, as easing domestic demand and rising input costs weighed on overall economic momentum.
According to preliminary data released by S&P Global, the HSBC Flash India Composite PMI Output Index fell to 56.5 in March from 58.9 in February.
This marks the weakest rate of expansion since October 2022, although the index remained above the 50-mark that separates growth from contraction.
The deceleration was led by the manufacturing sector, where output growth slowed sharply amid global uncertainties and persistent inflationary pressures.
The manufacturing Purchasing Managers' Index (PMI) declined to 53.8 in March from 56...