India Services PMI

Last Release

Jul 31, 2024

Actual

60.3

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 59.2 in November 2024 from a final reading of 58.5 in October, preliminary estimates showed. It marked the 40th consecutive month of expansion in services activity and the fastest pace since August, boosted by strong end demand and improving business conditions. As a result, the firms increased employment to the highest level since the survey began in December 2005. On prices, input cost inflation accelerated, boosted by higher food and wage costs. Also, output cost inflation accelerated as firms pass on additional cost burdens to their clients.