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Story perspectives

India and US PMI Slump: Growth Slows Down

9/24/2025

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Summary

Story summary

India’s private sector growth slowed; Composite Purchasing Managers' Index (PMI) fell to 61.9 in September from 63.2 in August.
Manufacturing PMI dropped to 58.5; services index to 61.6; payroll growth remained modest.
In the United States, activity slowed; PMI at 53.6 from 54.6; firms absorbed tariff costs without raising prices, job growth averaged 29,000.

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Story summary

India’s private sector growth slowed; Composite Purchasing Managers' Index (PMI) fell to 61.9 in September from 63.2 in August.
Manufacturing PMI dropped to 58.5; services index to 61.6; payroll growth remained modest.
In the United States, activity slowed; PMI at 53.6 from 54.6; firms absorbed tariff costs without raising prices, job growth averaged 29,000.