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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.
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Services PMI In September Falls To Lowest Since November 2023
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. Read more on Research Reports by NDTV Profit.Composite PMI slipped to 58.3 in September 2024 versus 60.7 in the previous month, with manufacturing and services PMI indicating easing in the pace of activity, adds the brokerage. Read MoreResearch Reports
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