India’s services sector sees fastest expansion since March
India's Service PMI surged to 60.9 in August from 60.3 in July 2024, indicating the strongest expansion rate in the past five months
India's Service PMI surged to 60.9 in August from 60.3 in July 2024, indicating the strongest expansion rate in the past five months
Output price inflation in the manufacturing sector rose to an 11-year high, despite a slight slowdown in input prices, says HSBC
The increase in output in July was driven by continued growth in manufacturing sector activity
Companies witnessed reduced working hours in May amid an intensive heatwave in India that sent temperatures soaring to record highs.
During the month under review, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low.
According to S&P Global, a key feature of the latest results was a substantial easing of price pressures.
The first trading day of December month started on a strong note, with the Sensex and Nifty rising nearly 0.8% to touch their fresh lifetime highs.
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 growth in new export business picked up to the fastest in nine months, since November last year