HSBC India Services PMI for March 2024 was revised higher to 61.2, indicating 32 consecutive months of sector growth. Business activity surged, with new export orders seeing the largest rise since September 2014. Employment also sharply increased, reaching its strongest level since November 2022. However, business sentiment weakened to a four-month low due to concerns about competitive pressures, while input price inflation accelerated, driven by higher labor and material costs.
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