India's private-sector expansion slows to five-month low as services cool

India’s flash composite PMI for October dropped to 59.9 from 61.0 in September, marking the weakest private-sector growth pace since May. The services activity index slipped to 58.8 from 60.9, while manufacturing rebounded slightly to 58.4. New orders grew at the slowest pace since May, and export demand weakened due to U.S. tariff pressures. Despite the slowdown, the index remains above the 50-point expansion threshold, indicating ongoing growth. Business sentiment eased as firms cited competitive pressures and demand uncertainty as headwinds.