Service Sector

Manufacturing muscle lifts Q2 GDP growth to 6-quarter high of 8.2%

FY26 estimates to be revised upwards after faster-than-expected expansion

Services sector needs employment-intensive structural transformation

This "growth-employment disconnect" seems to be defining India's services story. Modern services are capital-intensive and globally tradable, generating high productivity but few jobs

Services sector's informal trap: What's holding back formal job growth?

This piece explores the implications of one of these profiles - formal versus informal employment

Domestic fundamentals strong but global headwinds remain a concern

A growth rate of close to 8 per cent in Q1 should help the fiscal end with a decent growth print. However, challenges posed by global headwinds will commence from the second quarter

Services sector growth slows to more than 2-yr low of 56.5 in Jan: PMI data

Demand for services rose at the slowest pace in 14 months but remained sturdy

China's service sector rises to 7-mth high, but overseas orders decline

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

Strong demand revives services PMI in Oct, job creation improves

Companies recruit extra workers to meet domestic and international demand

Demand slowdown pulls down services PMI to 10-month low in September

New business intakes expanded sharply at the end of the second financial quarter, but the pace of growth retreated to a 10-month low

Results of first-ever service sector annual survey to be out by year-end

In 2019-20, the government had decided to conduct ASSSE on a regular basis on the lines of Annual Survey of Industries (ASI), which is done annually

168 million workforce added since FY18, 46.6 million in FY24: RBI data

RBI data shows services sector absorbing those moving out of agriculture

Slowdown in growth in new orders, output drags services PMI in Feb to 60.6

The survey polled around 400 companies in transport, information, communication, finance, insurance, real estate, non-retail consumer and business services

Mizoram registers 13.5% GSDP growth in FY 2022-23 driven by service sector

Mizoram has registered a 13.5 per cent Gross State Domestic Product (GSDP) growth in the 2022-23 financial year, according to an economic survey. The Mizoram Economic Survey 2023-24 also stated that the service sector continued to drive the state's economy, contributing to over 45 per cent of the Gross State Value Added (GSVA) in the 2022-23 fiscal. The economic survey, presented by Chief Minister Lalduhoma in the assembly on Thursday, said that the state's economy grew over the years, barring the pandemic period. The GSDP at constant prices (2011-12), which is the true indicator of growth without being influenced by factors such as inflation, is expected to grow to Rs 21,000.56 crore in the 2022-23 fiscal against the estimate of Rs 18,493.72 crore for the 2021-2022 fiscal, registering a growth of about 13.55 per cent over the previous year, the survey stated. Whereas the GSDP at current prices registered an increase of 17.99 per cent over the previous year, it said. The GSDP at .

IT industry to grow 3.8% in FY24 to cross $250 billion, says Nasscom

FY24 growth coming at a slower pace, from a growth rate of 8.4% last year

Manufacture or service: Must we choose?

This debate is futile in India's development journey

Targeting 20% revenues from non-lounge services in 5 years: DreamFolks CMD

The company currently earns 99% of its revenues from providing technology solutions connecting banks (and their debit and credit cards) with airport lounges

India's services PMI falls to 56.9 in November, lowest in 2023 so far

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

5G FWA device prices in India now below global average: Thiaw Seng NG

'Middle eastern markets show 5G FWA based home broadband can thrive even after fiber network penetration rises'

India's September services PMI hits 61 on positive demand environment

September's expansion in output was associated with effective marketing, favourable demand conditions and strong influxes of new business

US business activity growth slows to a five-month low as services soften

Monday's tepid survey data supported evidence that the US economy was still growing as the third quarter began, but at a slower rate from the April-through-June period

Services PMI growth declines to three-month low of 58.5 as inflation weighs

The headline figure has been expanding for 23 months on the trot since August 2021