PMI Data

Services activity accelerated in August, but weak new-business growth and intense competition kept the sector’s expansion near its weakest level in more than four years, even as hiring hit a 15-month high.

India’s manufacturing activity expanded at its slowest pace in nearly five years as cooling demand and output cuts triggered a mild dip in factory jobs, even as cost pressures eased.

India's service economy remained firmly inside expansion territory, but showed a loss of momentum last month.

June saw slower growth in new orders, international sales, employment and business activity.

The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, rose to 59.8 in May from 58.8 in April. It has continued to grow since April, after registering its weakest growth in 14 months in March.

Driven by domestic demand resilience, Indian factory activity outperformed estimates in May as new orders and production grew at their fastest pace since February despite persistent cost pressures.

Early PMI data shows manufacturing easing to a multi-month low while services continue to support overall private-sector expansion.

India's services sector showed recovery in April, with the HSBC PMI rising to 58.8. Increased output and new business orders were noted, alongside a shift to domestic suppliers. The composite PMI also rose to 58.2, indicating growth momentum across sectors.