India’s HSBC Composite PMI fell to 57.1 in June 2026 from May’s 59.3, below the flash estimate of 57.4 and marking the lowest reading since March.
The latest data pointed to softer expansions in both manufacturing and services activity.
New orders grew at the weakest pace in three months, while employment increased at its slowest rate so far this year.
Overseas demand also lost momentum, with export orders rising at the weakest pace in nearly two years.
As growth moderated, easing cost pressures allowed businesses to scale back price increases.
Input cost inflation eased to a five-month low, while output price inflation slowed to a seven-month low.
Looking ahead, business confidence slipped to a five-month low, as both manufacturers and service providers became less optimistic about future output.