Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years
Caixin/S&P Global services purchasing managers' index (PMI) eased to 52.5 from a 52.7 in March, remaining in expansionary territory for the 16th straight month
Driven by robust demand in both manufacturing and service sectors, PMI in April climbed to 62.2 from March's final reading of 61.8
In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction
HSBC Flash India Composite PMI (Purchasing Managers' Index) Output Index rises to 61.3
HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.3 this month from February's final reading of 60.6
According to the HSBC India Services PMI, new business placed with Indian service providers increased at the fastest rate in six months during January
Food prices, which account for about half of the inflation basket, rose in November and remained elevated last month, largely led by vegetable prices and household staples
The survey also mentioned that services companies in India reported an increase in their expenses in October due to higher food, fuel, and staff costs
In October, there were faster increases in input costs and output charges, with rates of inflation outpacing their respective long-run averages
An official survey showed on Tuesday that services PMI dropped to 50.1 from 50.9 in September
Optimistic outlook of companies bodes well for growth prospects, says S&P Global survey
'Sharp expansion' in international sales show companies' focus on international business, says survey
Combined with manufacturing, output prices across the private sector increased at the sharpest pace in over a decade
The companies the survey monitors reported that external demand for Indian services continued to improve in May, highlighted by a fourth successive rise in new export business
India's headline figure has been in the expansion zone for 23 months straight since August 2021
India's services sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in close to 13 years, a monthly survey said on Wednesday. The pick-up in demand occurred in spite of escalating price pressures. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.8 in March to 62.0 in April, signalling the fastest expansion in output since mid 2010, amid a pick-up in new business growth and favourable market conditions. For the 21st straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "India's service sector posted a remarkable performance in April, with demand strength backing the strongest increases in new business and output in just under 13 years. Finance & Insurance was the brightest spot, topping the sectoral growth rankings for both ...
Finance and insurance record strongest increase in output, says S&P Global's PMI survey
Strong demand, easing price pressures amid mild job creation drive index
The S&P Global India Services Purchasing Managers' Index rose from 57.2 in January to 59.4 in February, its highest since February 2011 and considerably above all forecasts