Services PMI News

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 growth rates seen in just under 14 years.

The index slipped below the 50-point mark, that separates expansion from contraction, in February.

Services sector activity in India rose to an eight-month high of 53.1 in June, driven by a sharp jump in new work orders, suggesting an economic rebound going forward.

Services sector activity in India grew at the fastest pace in four months in May riding piggyback on higher work orders as companies inducted more people to cope with greater workloads, a monthly survey said on Monday.

The services sector rebounded in February -- for the first time since October -- as businesses recovered from the demonetisation-led disruptions seen in the previous three months, a monthly survey showed today.

ndia's services languished, with new business orders falling for the third straight month, amid muted inflationary pressure that could offer RBI much room to remain accommodative in its next policy meet next week.

The index that slipped into contraction territory in November remained in that zone as the rupee ban led to the sharpest fall in new business since September 2013.

The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector companies on a monthly basis, stood at 46.7 in November, down from 54.5 in October. A reading above 50 means the sector is expanding while a score below this mark signals contraction.

Services sector activity in the country gathered pace in October, driven by sharper increase in new business orders amid strong demand and improved market conditions.

Growth in India's services industry slowed sharply in May to a six-month low, due to a deceleration in new orders, a business survey showed on Friday.