 "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.
Attachments area
 "India's services PMI falls to 56.9 in November, lowest in 2023 so far")
 "India's September services PMI hits 61 on positive demand environment")
 "August PMI services comes at 60.3 on strong order book; output elevated")
 "Services PMI at over 13-year high in July, helped by strong demand")
 "Dec services PMI at a 6-month high, thanks to stronger inflow of new biz")
 "Nov services PMI at a 3-month high of 56.4 thanks to new biz expansion")
 "Sensex rises 157 pts, Nifty atop 17,300; Nifty Metal index up 3%, FMCGs dip")
 "India's services activity rises to 59.2 in June, highest in 11 years")
 "PMI: Service activity touches 11-year high of 58.9 in May on strong demand")
 "India's PMI services at 5-month high in April on higher fresh orders")
 "Top headlines: NSE seeks new chief; Jet Airways appoints new CEO")
 "China's Jan services activity expands at slowest rate in 5 months: Report")
 "Market wrap: Sensex slumps 765 points, Nifty ends below 17,200 level")
 "Services PMI jumps to 18-mth high in Aug as vax access, footfall improve")
 "August service activity grows at fastest pace since pandemic began")
