Composite PMI Moderates, Still Above The Long-Term Average: Anand Rathi

Anand Rathi Report

Composite PMI fell to 58.3 in Sep-24, from 60.7 in Aug-24, marking the slowest expansion since Nov-23. Services PMI also dropped to 57.7 in Sep’24 from 60.9, its lowest since Dec-23, on account of moderation in new business, output and international sales.

New business growth slowed to a ten-month low due to increased competition. Despite rising costs, inflation remained in check with only marginal increases in output prices. Job creation in the Services sector continued, driven by growth in contractual and part-time employment.

Manufacturing PMI further slipped to 56.5 in Sep-24, from 57.7 the previous month. The deceleration was on account of slowerexpansion in domestic order growth and output, along with lower export demand growth, which was at a nine-months low.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.