NEW DELHI, (PNA/PTI) — India’s private sector activity contracted at a fastest rate in four and a half years in September amid tighter financial conditions and heightened macroeconomic uncertainty, an HSBC survey said today.
The HSBC India Composite Output Index, which maps both services and manufacturing activity fell to 46.1 in September from from 47.6 in August, signalling a sharp deterioration in business activity across the country’s private sector.