India’s Services Sector Ends 2024 Strong Amid Eased Inflation Pressures
Trending News
2 days, 15 hours ago

India’s Services Sector Ends 2024 Strong Amid Eased Inflation Pressures

Deccan Chronicle  

New Delhi: Signalling significant growth in the country’s services sector, India’s services activity rose to a four-month high of 59.3 points in December, an increase from 58.4 points recorded in November. The seasonally adjusted HSBC India Services Business Activity Index, however, showed that the index rose from 58.4 in November to 59.3 in December, highlighting the strongest rate of expansion in four months. “Demand buoyancy continued to drive new business inflows higher, which in turn supported output growth and prompted firms to recruit additional workers,” the survey showed. India’s manufacturing sector growth fell to a 12-month low in December with new business orders and production expanded at softer rates, but the service providers remained confident that output would increase over the course of the coming 12 months.

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History of this topic

India’s services sector growth rises to a four-month high in December
Trending News
2 days, 23 hours ago

India’s services sector growth rises to a four-month high in December

Live Mint  

New Delhi: Business activity gained momentum in December driven by demand buoyancy in the services sector, rising to a four-month high during the month, even as manufacturing growth slowed. India’s finance ministry recently said it expects the economy to grow at 6.5% in 2024-25, while the Reserve Bank of India estimates a 6.6% growth aided by rural consumption, government investment, …

India's services sector ended 2024 on a strong footing, PMI shows
Trending News
2 days, 23 hours ago

India's services sector ended 2024 on a strong footing, PMI shows

Deccan Chronicle  

India's dominant services sector ended 2024 on a high note as sustained demand boosted activity to a four-month high and led to strong hiring in December, while inflationary pressures eased, a survey showed.The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, rose to 59.3 in December from 58.4 in November, its highest since August but lower than …

India's manufacturing activity grew at its weakest pace in 2024
6 days, 16 hours ago

India's manufacturing activity grew at its weakest pace in 2024

Deccan Chronicle  

New Delhi: Despite easing cost pressures and strong job growth, India's manufacturing activity grew at its weakest pace for the year 2024, falling to a 12-month low in December this year as new business orders and production expanded at softer rates. “The ongoing improvements in new work intakes prompted manufacturing companies in India to purchase additional inputs for use in …

India’s manufacturing sector showed robust job creation, December PMI at 56.4
6 days, 23 hours ago

India’s manufacturing sector showed robust job creation, December PMI at 56.4

Live Mint  

New Delhi, January 2 : India's manufacturing sector showcased continued resilience in December 2024, with employment rising for the tenth consecutive month and reaching its fastest pace of job creation in four months, according to HSBC India Manufacturing Purchasing Managers' Index. India's manufacturing sector ended 2024 on a softer note as the PMI for December fell to 56.4, marking the …

Services led exports are a mixed blessing for the Indian economy
3 weeks ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

India’s Private Sector Hits 4-Month High in December: PMI Data
3 weeks, 2 days ago

India’s Private Sector Hits 4-Month High in December: PMI Data

Deccan Chronicle  

New Delhi: Showing the resilience in India's economy with solid momentum, the India's private sector growth hit four-month high at the fastest pace in December, helping the economy on a positive note at the end of the year, underpinned by sturdier demand in both services and manufacturing along with a record jobs growth, a private survey showed on Monday. As …

India's economy ends 2024 with solid momentum as business growth hits 4-month high, PMI shows
3 weeks, 2 days ago

India's economy ends 2024 with solid momentum as business growth hits 4-month high, PMI shows

The Hindu  

India's private sector output grew at the fastest pace in four months, preliminary readings from a survey showed, helping the economy end 2024 on a positive note underpinned by sturdier demand in services and manufacturing and record jobs growth. Asia's third-largest economy grew a softer 5.4% last quarter, but easing inflation is expected to spur demand among private sector firms, …

India's Services Sector Growth Stays Strong, Defies Inflation
1 month ago

India's Services Sector Growth Stays Strong, Defies Inflation

Deccan Chronicle  

New Delhi: The growth in India’s dominant services sector remained strong in November despite the inflationary pressure for over a decade. As per the survey by seasonally adjusted HSBC India Services Business Activity, the India’s services Purchasing Managers’ Index or PMI was down marginally to 58.4 from 58.5 in October as sales increased at a softer pace. Commenting on the …

India’s services sector growth falls marginally in November
1 month ago

India’s services sector growth falls marginally in November

Live Mint  

New Delhi: India’s services sector growth fell slightly in November from the previous month, owing to a drop in growth of new orders and output, a survey released on Wednesday showed. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, fell to 58.4 in November from 58.5 in October, but was higher than the 57.7 figure reported in …

India’s services sector employment grew at fastest pace since 2005
1 month ago

India’s services sector employment grew at fastest pace since 2005

Live Mint  

New Delhi, December 4 : India's service sector continued its impressive performance in November 2024, with services sector employment notably grew at the fastest pace ever recorded since this survey began in 2005. Pranjul Bhandari, Chief India Economist at HSBC, said "During November, services sector employment notably grew at the fastest pace ever recorded since this survey began in 2005. …

India factory growth softened in Nov on high inflationary pressures
1 month ago

India factory growth softened in Nov on high inflationary pressures

Deccan Chronicle  

India's factory growth cooled in November yet maintained a strong pace, leading to significantly improved optimism despite demand easing a bit due to higher price pressures, a business survey found.Asia's third-largest economy expanded a lacklustre 5.4% in the July-September quarter, official data showed on Friday, led by tepid growth in manufacturing and consumption. The rate was much lower than the …

Private sector grows in November despite cost pressures
1 month, 2 weeks ago

Private sector grows in November despite cost pressures

Deccan Chronicle  

New Delhi: With the modest uptick in business activity, India’s private sector economy continued its strong growth in November. The HSBC Flash India Composite Output Index rose to 59.5, even as cost pressures have surged to a 16-month high for both services and manufacturing players in the sector. As per the survey, the HSBC Flash India Composite Output Index, which …

Services sector boosts business activity as manufacturing growth slows in Nov
1 month, 2 weeks ago

Services sector boosts business activity as manufacturing growth slows in Nov

Live Mint  

Business activity gained momentum in November, driven by an upswing in the services sector, even as manufacturing activity grew slower than last month, according to an HSBC flash survey released on Friday. Manufacturing slowdown Although slightly lower than the previous month, the HSBC Flash India Manufacturing PMI—a composite index reflecting factory business conditions based on metrics such as new orders, …

Flash PMI signals India’s private sector activity at three-month high in November
1 month, 2 weeks ago

Flash PMI signals India’s private sector activity at three-month high in November

The Hindu  

Activity levels across India’s private sector are seeing a modest uptick this month, even as cost pressures have surged to a 16-month high for both services and manufacturing players, compelling them to raise prices charged to customers at a pace not seen since February 2013, as per the HSBC Flash India Purchasing Managers’ Index. The Flash PMI is an early …

India’s service sector growth rebounds in October on higher demand
2 months ago

India’s service sector growth rebounds in October on higher demand

Live Mint  

India’s services sector bounced back in October, buoyed by strong customer demand after a lull in September, according to a survey released on Wednesday. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, climbed to 58.5 in October from 57.7 in September, highlighting 39 consecutive months of above the 50-point threshold that distinguishes growth from contraction. "During October, …

Private sector activity grew at 10-month low pace in September
3 months ago

Private sector activity grew at 10-month low pace in September

The Hindu  

Growth in India’s private sector activity slowed to a ten-month low this September, as per the HSBC India Composite Output Index, which slipped from 60.7 in August to 58.3 last month, as factories and services players clocked a reduction in momentum. While manufacturing sector activity mellowed in September, with factory output and sales growing at the slowest pace so far …

Indian businesses grow at slowest pace in nine months, says HSBC Flash PMI
3 months, 2 weeks ago

Indian businesses grow at slowest pace in nine months, says HSBC Flash PMI

Live Mint  

New Delhi: India's business activity moderated in September, with output and new orders growing at the slowest pace in nine months, according to the flash survey by HSBC Holdings Plc. The HSBC flash PMI survey, compiled by S&P Global, highlighted strong new business inflows, solid job creation, and optimistic growth expectations. The India Services Purchasing Managers’ Index Business Activity Index …

Growth in services sector accelerates amid easing inflation, data shows
4 months ago

Growth in services sector accelerates amid easing inflation, data shows

Daily Mail  

Growth in the services sector picked up last month as businesses felt the benefits of lower borrowing costs and 'easing inflationary pressures', according to a new survey. The S&P Global UK services PMI survey scored 53.7 in August, up from the 52.5 recorded July and the highest reading since April. Growth: Growth in the services sector picked up last month, …

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

Services PMI signals mild dip in July; output prices raised at fastest pace in 7 years
5 months ago

Services PMI signals mild dip in July; output prices raised at fastest pace in 7 years

The Hindu  

Services sector activity remained robust in July, with international sales growing at the third-fastest pace in almost ten years, even as rising input costs compelled firms to raise prices at a seven-year high rate, as per the HSBC India Services Purchasing Managers’ Index that eased marginally from 60.5 in June to 60.3 last month. Overall private sector activity, factoring in …

India’s Services Activity Growth at Five-Month Low: HSBC Report
7 months ago

India’s Services Activity Growth at Five-Month Low: HSBC Report

Deccan Chronicle  

New Delhi: Despite staying strong in the month of May, India’s growth in services sector activity slowed to a five-month low due to weakened domestic demand, fierce competition, price pressures and heat waves that affected livelihoods across the country. As per the May data, the robust increases in new business intakes continued to underpin output growth across India’s service economy, …

India’s Business Activity Hits 14-Year High in May
7 months, 2 weeks ago

India’s Business Activity Hits 14-Year High in May

Deccan Chronicle  

New Delhi: With the significant growth in the services sector, India's business activity witnessed a robust expansion in May this year, recording the third strongest reading in close to 14 years. “The flash services PMI index hit a 4-month high of 61.4 this month, up from April's 60.8, while the preliminary manufacturing PMI showed a tad weaker growth than last …

Japan’s service activity extends gains on solid demand, PMI shows
8 months ago

Japan’s service activity extends gains on solid demand, PMI shows

Live Mint  

TOKYO, May 7 - Japanese service sector activity grew at the fastest pace in eight months in April thanks to solid business and consumer spending, a private survey showed on Tuesday, results that should keep the central bank on track to hike rates again this year. "April data revealed another strong month for the Japanese service sector as rising business …

India's Service Activity Growth in April Among Fastest in 14 Years: PMI
8 months ago

India's Service Activity Growth in April Among Fastest in 14 Years: PMI

News 18  

India’s services sector growth eased slightly in April but growth of new business and output remained sharp and among the fastest in 14 years amid favourable economic conditions and strong demand, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index fell from 61.2 in March to 60.8 in April, highlighting one of the strongest …

India's April services growth strong on near-record exports, PMI shows
8 months ago

India's April services growth strong on near-record exports, PMI shows

Hindustan Times  

Growth in India's dominant services industry softened in April but remained sturdy on robust domestic and foreign demand, lifting business confidence to a three-month high, a survey showed on Monday. "India's service activity rose at a slightly softer pace in April, backed by a further rise in new orders, with notable strength in domestic demand," noted Pranjul Bhandari, chief India …

The services story: On India’s success
8 months, 1 week ago

The services story: On India’s success

The Hindu  

A deep-dive research report from global investment banking major Goldman Sachs, evocatively titled ‘India’s rise as the emerging services factory of the world’, has captured India’s recent success in providing global services and sought to forecast growth prospects and risks in the medium term. The firm takes a broader view of India’s services exports over the last 18 years, including …

India's April business growth at near 14-year high, PMIs show
8 months, 2 weeks ago

India's April business growth at near 14-year high, PMIs show

Hindustan Times  

By Anant Chandak India's April business growth at near 14-year high, PMIs show BENGALURU, - India's business activity expanded at its fastest pace in nearly 14 years this month thanks to robust demand, according to a survey released on Tuesday that also showed easing input inflation and positive jobs growth. HSBC's flash India Composite purchasing managers' Index, compiled by S&P …

Services activity hit 13.5 year high in March: HSBC PMI
9 months ago

Services activity hit 13.5 year high in March: HSBC PMI

The Hindu  

Sales and business activity in India’s Services sectors clocked their biggest expansion in over 13 and a half years in March, bolstered by a record uptick in export orders, as per the HSBC India Services Purchasing Managers’ Index which rose to 61.2 to 60.6 in February. Barring real estate and business services, input costs and output charges rose at a …

Services PMI eases to 60.6, consumer inflation hits 2-year low in February
10 months ago

Services PMI eases to 60.6, consumer inflation hits 2-year low in February

Hindustan Times  

Activity in India's services sector continued to accelerate in February, albeit at a slightly slower pace, according to a business survey that also showed inflationary pressures were cooling. The HSBC India Services Purchasing Managers' Index, compiled by S&P Global, fell to 60.6 last month from January's six-month high of 61.8 and confounding a preliminary reading for a rise to 62.0. …

India’s economy surges further ahead in February
10 months, 2 weeks ago

India’s economy surges further ahead in February

Live Mint  

The Indian economy, which expanded at a four-month high in January, continued to strengthen in February, seeing accelerations in both manufacturing and services sectors during the month. While services sector growth climbed to a seven-month high in February, manufacturing sector growth reached a five-month high, firming India’s position as one of the fastest-growing major economies. The HSBC Flash India Composite …

India's January services PMI hits 6-month high amid strongest upturn in new business since mid-2023
11 months ago

India's January services PMI hits 6-month high amid strongest upturn in new business since mid-2023

The Hindu  

The services sector growth in India rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 61.8 in January, up from 59 in December, pointing to the sharpest rate …

India's manufacturing sector growth climbs to four-month high in January on sharper upturn in new orders: HSBC PMI
11 months, 1 week ago

India's manufacturing sector growth climbs to four-month high in January on sharper upturn in new orders: HSBC PMI

The Hindu  

“India’s manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation,” a monthly survey said on February 1. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index recovered from an 18-month low of 54.9 in December to 56.5 in January. According to the survey, new orders …

Indian economy gains momentum in January: HSBC
11 months, 2 weeks ago

Indian economy gains momentum in January: HSBC

Live Mint  

New Delhi: The Indian economy made a robust start to the new year, with private sector business activity expanding at the fastest pace in four months in January driven by strong demand. “The economy grew at a faster pace in January, led by stronger manufacturing output, as well as more robust business services activity," said Pranjul Bhandari, chief India Economist …

India’s Manufacturing Sector Growth Marks 18-Month Low At 54.9 In Dec
1 year ago

India’s Manufacturing Sector Growth Marks 18-Month Low At 54.9 In Dec

ABP News  

India’s manufacturing sector logged a decline as the sector’s growth declined to an 18-month low of 54.9 in December owing to a muted increase in factory orders and output, despite minimal inflation, the monthly survey conducted by S&P Global revealed on Wednesday. The HSBC India Manufacturing PMI survey, conducted by the rating agency S&P Global, found that factory orders and …

India’s manufacturing sector growth dips to 18-month low in December on softer rise in output
1 year ago

India’s manufacturing sector growth dips to 18-month low in December on softer rise in output

Firstpost  

India’s manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The …

Manufacturing activity hit 18-month low in December: HSBC PMI
1 year ago

Manufacturing activity hit 18-month low in December: HSBC PMI

The Hindu  

India’s manufacturing activity slipped to an 18-month low in December 2023, as per the HSBC India Manufacturing Purchasing Managers’ Index, whose reading for the month stood at 54.9 compared to 56 in November. Input costs rose at the second-slowest rate in nearly three-and-a-half years, while inflation in output charges paid by buyers softened to a nine-month low, as per 400-odd …

Services growth slips, drags private sector activity to a one-year low in November
1 year, 1 month ago

Services growth slips, drags private sector activity to a one-year low in November

The Hindu  

The momentum in India’s services sector faltered to a one-year low in November, as per the seasonally adjusted S&P Global India Services Business Activity Index which slid to 56.9 from 58.4 in October, with widespread slowdowns in growth rates for new orders and output. Taken together with the manufacturing Purchasing Managers’ Index for November released earlier, last month marked the …

Services sector activity hits 1-year low in November on slow demand, output
1 year, 1 month ago

Services sector activity hits 1-year low in November on slow demand, output

Live Mint  

India’s service sector activity in November slowed to the lowest levels over the previous 12 months, according to a private survey released on Tuesday, owing to slowing growth for both new orders and output across key services. “Despite falling from 58.4 in October to a one-year low of 56.9 in November, the seasonally adjusted S&P Global India Services Business Activity …

Services PMI signals September boost
1 year, 3 months ago

Services PMI signals September boost

The Hindu  

India’s services sector activity gained momentum in September, with new orders rising at the second fastest rate since June 2010, as per the S&P Global India Services Purchasing Managers’ Index, which moved up to 61 from 60.1 in August. Growth in new international orders slowed to a three-month low, yet was one of the quickest since September 2014, S&P Global …

India's services exports post fastest growth in 9 years
1 year, 4 months ago

India's services exports post fastest growth in 9 years

Deccan Chronicle  

NEW DELHI: India's services activity continued to expand in August, though the purchasing managers' index or PMI services dropped to 60.1 in the month from the previous reading of 62.3 in July. However, the survey also showed that hiring activity across India's service economy continued to expand halfway through the second fiscal quarter. Commenting on the survey, Pollyanna De Lima, …

Buoyancy check: on the findings of the S&P Global Services PMI Business Activity Index
1 year, 8 months ago

Buoyancy check: on the findings of the S&P Global Services PMI Business Activity Index

The Hindu  

India’s services sector seems to have had a great start to the financial year, if one were to go purely by the findings of the S&P Global Services PMI Business Activity Index. On the trade front, India’s services exports are estimated to have hit a record $325 billion in 2022-23, reflecting a growth of almost 28% over the previous year. …

For India’s Services firms, April was the best month in almost 13 years: S&P Global PMI
1 year, 8 months ago

For India’s Services firms, April was the best month in almost 13 years: S&P Global PMI

The Hindu  

India’s services sector recorded its highest uptick in new business and output levels since June 2010 this April, led by a strong upturn in the Finance and Insurance segment, as per the seasonally adjusted S&P Global India Services PMI® Business Activity Index, which rebounded from a decline to 57.8 in March to 62 in April. “India’s service sector posted a …

India's services sector activity hits 12-year high in February: PMI
1 year, 10 months ago

India's services sector activity hits 12-year high in February: PMI

The Hindu  

The Indian services sector expanded at the strongest rate in 12 years in February supported by favourable demand conditions and new business gains, a monthly survey said on March 3. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.2 in January to 59.4 in February -- its highest level in 12 years. "The service sector …

India's services sector growth eases slightly in January
1 year, 11 months ago

India's services sector growth eases slightly in January

The Hindu  

The Indian services sector growth rate moderated in January as output and sales rose at softer rates, while subdued level of confidence among service providers towards future outlook appeared to have stymied job creation, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 58.5 in December to 57.2 in January. …

India\'s services sector growth hits 6-month high in December on strong demand
2 years ago

India\'s services sector growth hits 6-month high in December on strong demand

Deccan Chronicle  

New Delhi: With a quicker upturn in new business boosting output growth, India's services industry witnessed activity increase at the fastest pace in six months during the final month of 2022, ie; December. Amid the robust demand, fuelling business optimism despite high costs, more jobs were created and companies remained upbeat towards the year ahead, a private-sector survey showed on …

India’s December services sector growth at highest level in 6 months
2 years ago

India’s December services sector growth at highest level in 6 months

Live Mint  

December data highlighted an improvement in the health of the Indian service sector, with a quicker upturn in new business boosting output growth as the services industry saw activity increase at the fastest pace in six months since June 2022 on robust demand. The S&P Global India services purchasing managers' index rose to 58.5 in December from 56.4 in the …

India's services sector growth hits six month high in December 2022 | DETAILS
2 years ago

India's services sector growth hits six month high in December 2022 | DETAILS

India TV News  

Indian service sector growth: The Indian services sector growth touched a six-month high in the month of December, supported by a robust intake of new work and favourable market conditions, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 56.4 in November to 58.5 in December, highlighting the strongest rate …

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy
2 years, 2 months ago

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy

ABP News  

India has made tremendous progress over a period of time. From being a predominantly agrarian economy, India has transformed into a services sector-oriented economy that contributes over 50 per cent to the GDP. Around 697,453 foreign tourists came for medical treatment to India in 2019, making up 6.4 per cent of the total foreign tourist arrivals in India. During 2010-2019, …

Services sector growth hit 6-month low in September
2 years, 3 months ago

Services sector growth hit 6-month low in September

The Hindu  

India’s services sector stuttered in September as new business and output growth grew at the slowest pace since March 2022, as per the S&P Global India Services Purchase Managers’ Index which dropped to 54.3 from August’s robust 57.2 level. September marked the 14th successive month of growth in services sector activity, but price pressures, an increasingly competitive environment and ‘unfavourable …

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