For more than three years, the index has stayed above the 50-mark separating expansion from contraction
Job creation in sector 'remains solid'; companies positive about economy
India August service PMI: The PMI climbed to 60.9 in August, fuelled by by increase in new domestic orders
The new business index remained above 50, extending the sequence of expansion that started from January 2023, but the rate of growth was softer than July
The flash services PMI index rose to 60.4 this month from 60.3 in July, while a preliminary manufacturing PMI showed strong growth, albeit slightly weaker than last month
Moreover, cost pressures remained elevated, pushing up selling-price inflation to a seven-year high in July, which also saw stronger job creation
While there was a slowdown in growth, business activity has remained above the neutral mark of 50.0
The indexes are based on preliminary survey results and are a signal of business confidence in the economy
'Staffing levels' increase at fastest pace since August 2022, according to survey
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
The headline Purchasing Managers' Index (PMI) figure, released by HSBC, slid to 60.8 in April from 61.2 recorded in March
Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years
In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction
According to the HSBC India Services PMI, new business placed with Indian service providers increased at the fastest rate in six months during January
The HSBC India Services Purchasing Managers' Index, compiled by S&P Global, rose sharply in December to 59.0 from November's one-year low of 56.9
S&P Global said that the slowdown in services PMI was mainly owing to a slowdown in new orders as well as output across sectors
In October, there were faster increases in input costs and output charges, with rates of inflation outpacing their respective long-run averages
The latest data showed a substantial increase in new business placed with Indian service providers, one that was the second-fastest since June 2010
September's expansion in output was associated with effective marketing, favourable demand conditions and strong influxes of new business
Services firms indicated the sharpest upturn in new export business since S&P Global services PMI started in September 2014