India's Private Sector Activity Slows to Lowest Level Since October 2022
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 24 2026
0mins
Should l Buy SPGI?
Source: CNBC
- PMI Index Decline: The HSBC flash India Composite PMI fell from 58.9 in February to 56.5 in March, below the expected 59.0, indicating that weaker domestic demand is dampening economic growth prospects.
- Manufacturing Activity Weakens: India's manufacturing PMI dropped from 56.9 to 53.8, below the forecast of 56.8, reflecting rising costs and softer demand due to the Middle East conflict, with factory output hitting its lowest level since August 2021.
- Service Sector Expansion Slows: The services PMI also decreased to 57.2, below the analyst forecast of 58.3, partly due to travel disruptions caused by military strikes, impacting growth in the services sector.
- Economic Outlook Uncertain: Prime Minister Modi highlighted that the global economic difficulties caused by the Middle East conflict are likely to persist, urging citizens to remain united, indicating challenges for India's economic recovery amid energy crises and trade route disruptions.
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Analyst Views on SPGI
Wall Street analysts forecast SPGI stock price to rise
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 425.170
Low
546.00
Averages
617.77
High
675.00
Current: 425.170
Low
546.00
Averages
617.77
High
675.00
About SPGI
S&P Global Inc. provides essential intelligence. Its operations consist of five businesses: S&P Global Market Intelligence (Market Intelligence), S&P Global Ratings (Ratings), S&P Global Commodity Insights (Commodity Insights), S&P Global Mobility (Mobility) and S&P Dow Jones Indices (Indices). Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions. Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks. Commodity Insights is an independent provider of information and benchmark prices for the commodity and energy markets. Mobility is a provider of solutions serving the full automotive value chain, including vehicle manufacturers and retailers. Indices is a global index provider that maintains a variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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