The HSBC India Services PMI was up to 61.7 in April 2024 from a final 61.2 a month earlier, a flash reading showed. It was the 33rd straight month of growth in services activity and the steepest pace in three months, with a further rise in new orders adding pressure on the capacity of the service sector, as was the case in manufacturing activity. Companies also noted a quicker rate of new orders when compared with factory orders, linked to stronger demand from Africa, Asia, Australia, the Americas, Europe, and the Middle East. Simultaneously, service providers took on extra staff at a marginal pace that was softer than that in March. On prices, firms saw a slowdown in input cost inflation but the figure was steeper than in the manufacturing due to rising labor cost. At the same time, output charges rose at a softer rate. source: S&P Global
Services PMI in India increased to 61.70 points in April from 61.20 points in March of 2024. Services PMI in India averaged 51.98 points from 2012 until 2024, reaching an all time high of 62.30 points in July of 2023 and a record low of 5.40 points in April of 2020. This page provides the latest reported value for - India Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
Services PMI in India increased to 61.70 points in April from 61.20 points in March of 2024. Services PMI in India is expected to be 56.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Services PMI is projected to trend around 52.10 points in 2025 and 54.00 points in 2026, according to our econometric models.