FX.co ★ India's Manufacturing & Services PMI Dips Slightly from October Highs

In a subtle shift, India's Manufacturing & Services Purchasing Managers' Index (PMI) recorded a slight decline for November 2025, as indicated by recent data updates on November 21, 2025. The composite PMI figure, which serves as a barometer for the economic health of the country's broad sectors, decreased to 59.90, down from 60.40 observed in October.

The marginal reduction in the PMI is essentially a month-over-month comparison that reflects softer growth in production and services when juxtaposed against the earlier month's reading. The PMI, which consistently remains above the neutral mark of 50, still signifies expansive conditions, albeit at a slightly dampened pace compared to the exuberance noted in October 2025.

Despite the tapering, the current PMI reading continues to underscore robust economic activity in India, suggesting that the core economic driver remains largely resilient. Stakeholders are closely monitoring these trends to gauge future macroeconomic performance while keeping a watchful eye on contributing factors that could be influencing these moderating indicators.