The hiring activity and business confidence slipped to a five-month low in October, said S&P Global
The non-manufacturing PMI also fell to 50.6 last from 51.7 in September, indicating a slowdown in activity in the vast service sector and construction
September's expansion in output was associated with effective marketing, favourable demand conditions and strong influxes of new business
Job creation in industry continues as firms continue getting new business, says S&P Global
The fall in PMI was primarily attributed to a softening in the number of new orders
"Services supply and demand grew at a slower pace in September, as market conditions improved less than expected," said Wang Zhe, senior economist at Caixin Insight Group.
Optimistic outlook of companies bodes well for growth prospects, says S&P Global survey
'Sharp expansion' in international sales show companies' focus on international business, says survey
This marked a sustained expansion, with 26 months above the 50-mark separating growth from contraction, the longest stretch since March 2020 when pandemic-induced lockdowns were imposed
Manufacturers' output has increased continuously on a monthly basis since July 2021
According to S&P Global, the overall level of business confidence rose to a six-month high in June
Speculation about potential policy support has been mounting as the recovery for the world's second-largest economy loses traction
The companies the survey monitors reported that external demand for Indian services continued to improve in May, highlighted by a fourth successive rise in new export business
Manufacturers have 'abundant opportunities to keep powering ahead', says S&P Global survey
The survey results suggest India will continue to be one of the fastest-growing major economies despite slowing global growth that has undermined momentum across several other countries
S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 53.5 this month
Strong demand, easing price pressures amid mild job creation drive index
The survey noted that the February data pointed to a consecutive twenty-month rise in manufacturing production
Companies increase input inventories by purchasing additional materials, but hiring remains unchanged broadly
The govt's official PMI on Saturday showed that China's abrupt reversal of its Covid Zero policy pushed economic activity - its service sector in particular - to the slowest pace since February 2022