Services Sector PMI

The Caixin/S&P Global services purchasing managers' index (PMI), released on Wednesday, fell to 51.5 from 52.0 in October

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

Owing to lower readings in October and November, however, the latest quarterly average was the lowest since the fourth quarter of the financial year 2022-2023

The hiring boom in India's services sector is likely to continue in the third quarter, with 73 per cent of employers willing to increase their resource pool

While input costs increased at the fastest rate in nearly 14 years, prices charged rose at their quickest rate in around half a decade.

Business Standard brings to you a snapshot of events which made it to the headlines today

Falls to 49.3 in March from February's 7-yr high of 57.5 as companies cut workforce

In PMI parlance, a print above 50 means expansion while a score below that denotes contraction

PMI for services, which is based on the responses of executives of 400 private sector companies, fell to 50.2 in May, from 51 in April

India's economic growth fell to 7.1% in the second quarter (July-September) of the current fiscal, from 8.2% in the April-June period

The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 53.7 last month from 52.2 in Oct, its highest since July

Services growth hit slow lane in August

With improved demand conditions, jobs growth picked up from May's five-month low

The service sector plays a crucial role in India's economy as it contributes about 60% to the country's GDP

Employment growth improves to fastest since March 2011

Higher work orders helped India's servicex sector return to the growth charts in March and raise hiring at the fastest pace in a little more than seven years, showed the widely tracked Nikkei India Services Purchasing Managers Index (PMI).PMI for the sector was 50.3, recovering from the 47.8 of February. The 50-point mark separates expansion from contraction, indicating the sector's health remains in tumult. In the 12 months to March, the sector contracted four times in the PMI measure.Service activity had contracted in February for the first time in three months as rising price pressure led to a decline in new business orders. In March, enhanced marketing and discounts in some cases allowed services companies to win new clients, according to the report by IHS Markit, compiler of the PMI survey.Confidence among firms strengthened to the highest recorded since implementation of the goods and services tax last July, with forecasts of an improvement in demand being cited as the key ...

Combined services, manufacturing PMI fastest since demonetisation

However, expansion in just some industries such as information & communications and finance & insurance primarily drove overall business activity