India’s Economic Activity Slows in March on Iran War, PMIs Show

India’s economic activity slowed in March, with manufacturing slumping to its lowest in nearly 4.5 years, as factories curtailed output due to gas shortages triggered by the war in Iran, a flash survey by HSBC Holdings Plc showed.

The manufacturing purchasing managers’ index fell to 53.8 from 56.9 in February, while the services index fell to 57.2 from 58.1 last month. That pulled the composite index down to 56.5 from 58.9.