Indian PMI Signal Slowest Growth Since Late 2022 as Cost Inflation Surges -- Market Talk

Dow Jones
Mar 24

0618 GMT - Flash PMI data for India took a turn in March, signaling the slowest expansion in private-sector output since October 2022. "Output growth eased across both manufacturing and services as the energy shock unfolds," says Pranjul Bhandari, chief India economist at HSBC. The largest slowdown was noted by goods producers, who reported that the war in the Middle East weighed on production, exacerbating market instability, driving inflation, and restricting demand amid heightened uncertainty among clients and end consumers, according to the HSBC flash India PMI compiled by S&P Global. Service providers also indicated a weaker upturn in business activity. Anecdotal evidence cited disruptions to international travel amid strikes by the U.S. and Israel and Iran's counterattacks. (fabiana.negrinochoa@wsj.com)

 

(END) Dow Jones Newswires

March 24, 2026 02:18 ET (06:18 GMT)

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