India Services PMI

Last Release

Jul 31, 2024

Actual

61.1

Units In

Points

60.5

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.3 Jul 2023	5.4 Apr 2020	52.14 Points	2012-2024	Markit Economics

The IHS Markit India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Latest Updates

The HSBC India Services PMI increased to 61.1 in July 2024 from 60.5 in June, preliminary estimates showed. It marked the 36th consecutive month of expansion in services activity and the fastest growth since March, as output grew faster and remained well above its long-run average. New export order growth accelerated while employment continued to increase. On the price front, input cost inflation accelerated, mainly boosted by higher prices of eggs, meat, and vegetables. As a result, output costs continued to rise. Finally, sentiment remained positive, supported by strong demand.