Ahead of MPC meet, data shows input price pressures rise
Inflation at six-month high keeps business confidence muted but companies generate highest employment since pre-Covid period of February 2020
The market is still feeling the aftereffects of the Fed's surprise projection last week for rate hikes as soon as 2023, which knocked stocks
The IHS India Services Business Activity Index eased to 54.6 in March from 55.3 in February, suggesting moderation in growth
Firms continued to bear elevated cost pressures but only passed some of it to consumers to stay competitive
The index was above the critical 50 mark that separates growth from contraction for the fifth month in a row during February
While all three broad areas of the manufacturing industry recorded expansion, consumer goods segment led the growth, the only sector to see a stronger rate of increase
The companies indicated that sales growth was underpinned by resilient demand, though curbed by the Covid-19 pandemic
Asia's third-largest economy and the second most affected country by the pandemic contracted 7.5% in the July-September quarter
As in the manufacturing sector, employment declined for successive months in services sector too.
Job losses continue as domestic demand struggles as lockdowns return in states and export orders vanish
June was the fourth straight month the index was sub-50, the longest such stretch since a ten-month run to April 2014
Job losses across services sector continue as foreign orders remain missing
Govt will need to spend more, but should credibly commit through institutional reform to future transparency and prudence
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Demand rose at the fastest pace in more than three years
Anecdotal evidence highlighted subdued demand conditions, competitive pressures and a fragile economic situation
The IHS Markit India Services Business Activity Index fell to 49.6 in June, down from 50.2 in May
The dominant sector of the Indian economy saw PMI for April go down to 51, after hitting 52 in March