India's manufacturing PMI declines to 58.8 in April
The rise in raw material stocks during the month was supported by increased buying levels.
The rise in raw material stocks during the month was supported by increased buying levels.
The final HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 61.2 last month, surpassing February's 60.6 reading.
HSBC's fash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 61.3 this month compared to February's final reading of 60.6.
The HSBC final India Services Purchasing Managers' Index stood at 59.0 in December 2023.
As the calendar year comes to a close, uncertainties continue to impact global trade, proving that the government’s assessment was correct – unpredictability is the norm.
India's service sector lost further growth momentum midway through the third quarter.
The latest PMI reading remains above its long-run average of 53.9.
New orders, the largest sub-component of the PMI, rose at a softer pace in September.
The S&P Global India Services PMI Index marginally falls to 60.1 in August from 62.3 in July.
Positive demand dynamics and greater labour costs pushed charge inflation to a 13-month high.