What is Services PMI?

Business confidence leads to 'hiring surge' as input costs rise to the 'greatest extent' in 15 months

November Service PMI: The hiring surge was driven by improving business confidence, rising new orders, and strong international demand in the sector

Companies recruit extra workers to meet domestic and international demand

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

Moreover, cost pressures remained elevated, pushing up selling-price inflation to a seven-year high in July, which also saw stronger job creation

According to the survey carried out by the global banker, the headline flash composite Purchasing Managers' Index (PMI) figure rose to 61.4 in July, compared to 60.9 in June

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

HSBC Bank survey says 'buoyant demand' led to a 'cascade of positivity for the sector'

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

According to the HSBC India Services PMI, new business placed with Indian service providers increased at the fastest rate in six months during January

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

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

Companies continue to exercise caution in pricing decisions, says S&P Global survey

The headline figure has now been in the expansion zone for seventeen consecutive months since August 2021

The headline figure has been in the expansion zone for the sixteenth consecutive month since August 2021

Services PMI released by credit rating agency S&P Global improved to 55.1 in October from 54.3 in September

"During the quarter, inflation was at peak levels which impacted gross margins," Dabur said in a regulatory filing