Domestic demand, easing costs propped up Services in August: PMI
3 months, 2 weeks ago

Domestic demand, easing costs propped up Services in August: PMI

The Hindu  

Business activity in India’s services sector accelerated at a five-month high pace in August, aided by productivity gains, a pullback in cost pressures which eased to a four-year low, and higher domestic demand. The seasonally adjusted HSBC India Services Business Activity Index, based on responses from 400-odd private players, rose to 60.9 in August from 60.3 in July. Overall private sector activity, factoring in manufacturing firms, was unchanged from July levels as per the HSBC India Composite Output Index that had a reading of 60.7 in August. Services firms continued to expand payrolls, but the hiring pace dropped to a four-month low in August, while Outstanding business volumes rose at the weakest rate since February.

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