What is Services PMI?

Services PMI

What is Services PMI?
What is Services PMI?
In order to get an economic insight into a sector, the purchasing managers' index (PMI) provides an indicator based on surveys of businesses. The most common PMI surveys are the Manufacturing PMI and the Services PMI.
 
The IHS Markit India Services PMI is based on data compiled from questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories, and prices.
The Services PMI provides advanced insight into the services sector, giving investors a better understanding of business conditions and valuable information about the economic backdrop of various markets.
 
Services PMI also provides the stock market an indicator of whether the current economy is healthy or not, which generally translates to higher corporate profits. In the bond market, they do not prefer rapid growth and are extremely sensitive if the economy is causing potential inflationary pressures. The PMI data are also used by the Reserve Bank of India to help make interest rate decisions.
 
In December 2020, India's services sector activity gained momentum and touched a five-month high, supported by an uptick in new business orders that boosted output as well as employment.
 
The IHS Markit India Services Business Activity Index improved from rose to 52.8 in January from 52.3 in December.
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Latest Updates on Services PMI

India's services PMI falls to 56.9 in November, lowest in 2023 so far

2 min read Last Updated : Dec 05 2023 | 11:09 AM IST
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India's September services PMI hits 61 on positive demand environment

2 min read Last Updated : Oct 05 2023 | 10:56 AM IST
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August PMI services comes at 60.3 on strong order book; output elevated

2 min read Last Updated : Sep 05 2023 | 10:44 AM IST
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Services PMI at over 13-year high in July, helped by strong demand

3 min read Last Updated : Aug 03 2023 | 11:27 PM IST
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Dec services PMI at a 6-month high, thanks to stronger inflow of new biz

4 min read Last Updated : Jan 05 2023 | 01:22 AM IST
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Nov services PMI at a 3-month high of 56.4 thanks to new biz expansion

3 min read Last Updated : Dec 05 2022 | 11:16 PM IST
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Services PMI recovers to 55.1 in Oct after hitting six-month low in Sept

3 min read Last Updated : Nov 03 2022 | 10:52 PM IST
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Top headlines: Sep services growth at 6-month low; Dabur flags margin hit

2 min read Last Updated : Oct 06 2022 | 5:24 PM IST
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Services PMI at 54.3 in Sep; slowest expansion in 6 months amid weak demand

3 min read Last Updated : Oct 06 2022 | 11:06 AM IST
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Sensex rises 157 pts, Nifty atop 17,300; Nifty Metal index up 3%, FMCGs dip

2 min read Last Updated : Oct 06 2022 | 3:35 PM IST
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Services PMI accelerates in Aug; job creation strongest in 14 years

3 min read Last Updated : Sep 05 2022 | 11:20 PM IST
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India's services activity rises to 59.2 in June, highest in 11 years

4 min read Last Updated : Jul 06 2022 | 01:16 AM IST
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PMI: Service activity touches 11-year high of 58.9 in May on strong demand

2 min read Last Updated : Jun 03 2022 | 10:54 AM IST
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India's PMI services at 5-month high in April on higher fresh orders

3 min read Last Updated : May 06 2022 | 12:45 PM IST
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Top headlines: NSE seeks new chief; Jet Airways appoints new CEO

2 min read Last Updated : Mar 04 2022 | 5:18 PM IST
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China's Jan services activity expands at slowest rate in 5 months: Report

3 min read Last Updated : Feb 07 2022 | 09:18 AM IST
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Volume IconMarket wrap: Sensex slumps 765 points, Nifty ends below 17,200 level

4 min read Last Updated : Dec 03 2021 | 5:25 PM IST
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India's services activity remains strong in Sept, firms hire more employees

2 min read Last Updated : Oct 05 2021 | 10:53 AM IST
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Services PMI jumps to 18-mth high in Aug as vax access, footfall improve

3 min read Last Updated : Sep 04 2021 | 12:54 PM IST
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August service activity grows at fastest pace since pandemic began

2 min read Last Updated : Sep 03 2021 | 11:54 AM IST
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