Services PMI December 2024: Underlying demand identified as the primary factor behind output growth, says HSBC India Services PMI, compiled by S&P Global
The growth pace was the fastest since May 2024, surpassing the 50-mark that separates expansion from contraction on a monthly basis
Final au Jibun Bank Service purchasing managers' index (PMI) grew to 50.9 in December from 50.5 in November, according to the survey compiled by S&P Global Market Intelligence
At 6:35 AM, GIFT Nifty futures were trading merely 4 points higher at 24,096, hinting at a flat to positive start for the day
In the previous session, the Sensex settled 843.16 points or 1.04 per cent higher at 82,133.12. Similarly, the Nifty ended higher 219.60 points or 0.89 per cent at 24,768.30
In the previous session, the Sensex fell 0.54 per cent to close at 77,156.80, while the Nifty declined 0.72 per cent to settle at 23,349.90
Index has been above the 50-level separating growth from contraction for 39 consecutive months
India August service PMI: The PMI climbed to 60.9 in August, fuelled by by increase in new domestic orders
While there was a slowdown in growth, business activity has remained above the neutral mark of 50.0
The world's second-biggest economy grew much more slowly than expected in the second quarter
Caixin/S&P Global manufacturing PMI fell to 49.8 in July from 51.8 the previous month, the lowest reading since October
Business confidence levels eased to the lowest level since March 2020 with concerns about the global economy and rising competition
HSBC India Services PMI says firms optimistic and hiring up as input costs rise
Last month the Bank of England estimated the economy grew just 0.1% in the first quarter and would do only slightly better in the second
The reading has been consistently above the 50-mark separating expansion from contraction since August 2021
The survey polled around 400 companies in transport, information, communication, finance, insurance, real estate, non-retail consumer and business services
Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history
January figure marks 30 months of the index remaining above the 50-mark since July 2021. A reading above 50 in the survey indicates expansion of the sector and a figure below that suggests contraction
Closing Bell on Friday, December 1, 2023: The Nifty 50 index scaled a new peak of 20,291.55 in the intraday trade
The latest data showed a substantial increase in new business placed with Indian service providers, one that was the second-fastest since June 2010