India Services PMI

Last Release

Mar 31, 2024

Actual

60.3

Units In

Points

60.6

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	51.9 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 declined slightly to 60.3 in March 2024 from a final 60.6 in the previous month, pointing to the softest expansion since last December, preliminary reading showed. It also marked the 32nd straight month of growth in the services sector amid a sharp increase in business activity, with new export orders rising faster from the prior month. Meantime, employment increased at a moderate pace. On the price front, input price inflation rose to a seven-month high, while output cost inflation accelerated to an 80-month high. Lastly, business sentiment strengthened.