India’s Economic Activity Stays Subdued as Manufacturing Weakens

Economics Indicators Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Anup Roy August 21, 2026 at 5:15 AM UTC India’s economic activity remained subdued in August as a slowdown in manufacturing was offset by slight growth in the services sector, a flash survey by HSBC Holdings Plc showed Friday. The manufacturing purchasing managers’ index fell to 52.9 this month from 53.5 in July, while the services purchasing managers’ index stood at 54.5 from 53.3 in the same period. That resulted in the composite index rising marginally to 54.6 in August compared with 54.3 in July, which last month was over four-year low .