Service Sector PMI

Overall new business continued to increase strongly as companies report rise in costs, it says

The growth pace was the fastest since May 2024, driven by the surge in domestic demand

November Service PMI: The hiring surge was driven by improving business confidence, rising new orders, and strong international demand in the sector

The final HSBC India Services purchasing managers' index, compiled by S&P Global, fell to 60.2 last month from April's 60.8, confounding a preliminary reading for a rise to 61.4

India's services sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in close to 13 years, a monthly survey said on Wednesday. The pick-up in demand occurred in spite of escalating price pressures. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.8 in March to 62.0 in April, signalling the fastest expansion in output since mid 2010, amid a pick-up in new business growth and favourable market conditions. For the 21st straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "India's service sector posted a remarkable performance in April, with demand strength backing the strongest increases in new business and output in just under 13 years. Finance & Insurance was the brightest spot, topping the sectoral growth rankings for both ...

Finance and insurance record strongest increase in output, says S&P Global's PMI survey

Strong demand, easing price pressures amid mild job creation drive index

Unlike their manufacturing counterparts, service companies hired more hands even as the rate of employment generation remained modest

Job losses across services sector continue as foreign orders remain missing

On the employment front, buoyed by ongoing improvements in new work and optimistic growth projections, service providers placed more people in jobs during April

The index change was partly caused by waning new business growth, with further increases to output prices perhaps contributing to the slide'

Most companies did not hire additional labour in March

Factory orders reach 4-month high as new businesses rise at second-highest pace in 2 years

In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction

In PMI parlance, a print above 50 means expansion while a score below that denotes contraction