India Composite PMI Falls

India’s private sector economy lost some momentum in September due to softer increase in output and new business generation in both the manufacturing and service sectors, a key macro-economic data showed on Wednesday, HansIndia reported. The Nikkei Markit India Composite PMI Output Index declined to 52.4 in September from 54.6 in August. The seasonally adjusted Nikkei India Services Business Activity Index, too, registered a slower rate of expansion at 52 in September, down from August’s 43-month high of 54.7. An index reading of above 50 indicates an overall increase in economic activity, and below 50 an overall decrease.