India’s services PMI eases to 58.9 in October as cost pressures cool

In October 2025, India’s services sector growth slowed, with the PMI dropping to 58.9 from 60.9 in September. The moderation came amid heavy rain disruptions and increased competition, though the index remained well above the expansion threshold. Input‐cost inflation fell to a 14‐month low, offering relief to firms. Despite signs of decelerating momentum, business confidence held above its long-run average, suggesting resilience heading into the final quarter of the year.