India’s Economic Momentum Slows in October as US Tariffs Hit

India’s overall economic activity slowed in October as services lost pace and demand for new orders softened after higher US tariffs took effect, a flash survey by HSBC Holdings Plc showed.

The composite index fell to 59.9 compared with 61.0 in September, mainly due to the dip in the services index. It fell to 58.8 from 60.9 last month while the manufacturing purchasing managers’ index rose to 58.4 from 57.7 in September.