India 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

HSBC Flash November PMI: Composite output index rises to 59.5, up from October's final reading of 59.1. Manufacturing PMI dips to 60.2, services PMI rises to 59.2

After cheering Trump's victory, focus will now shift to US Fed's policy decision. Meanwhile, September quarter results and macroeconomic data will also be eyed

Companies recruit extra workers to meet domestic and international demand

The GIFT Nifty indicated a flat start, with an uptick of 12 points at 6:35 AM, trading at 24,464.5

Investors will closely monitor quarterly earnings reports alongside manufacturing, composite, and services data for October

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

India August service PMI: The PMI climbed to 60.9 in August, fuelled by by increase in new domestic orders

The new business index remained above 50, extending the sequence of expansion that started from January 2023, but the rate of growth was softer than July

The flash services PMI index rose to 60.4 this month from 60.3 in July, while a preliminary manufacturing PMI showed strong growth, albeit slightly weaker than last month

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

While there was a slowdown in growth, business activity has remained above the neutral mark of 50.0

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

The final HSBC India Services purchasing managers' index, compiled by S&P Global, fell to 60.2 last month from April's 60.8, confounding a preliminary reading for a rise to 61.4

The headline Purchasing Managers' Index (PMI) figure, released by HSBC, slid to 60.8 in April from 61.2 recorded in March

Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction