India’s composite output slowed to 59.9 in October, marking the weakest expansion since May despite continued strong manufacturing activity.

• Services growth softened sharply, dragging composite output lower even as manufacturing PMI hit a two-month high of 58.4.
• New orders and export demand expanded modestly, while job creation matched September’s pace, the joint-slowest since April 2024.
• Input costs rose mildly, but output prices accelerated, and business optimism faded slightly entering the third fiscal quarter.