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India Services PMI

Last Release
May 31, 2024
Actual
61.4
Units In
Points
Previous
60.8
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
52.03 Points2012-2024Markit 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 61.4 in May 2024 from 60.8 in the previous month, preliminary estimates showed. It was the 34th straight month of growth in services activity and the fastest expansion since January, as business activity grew the most in four months. At the same time, new export orders grew strongly, after posting the second-fastest in a near-ten-year in the previous month. Employment increased, with the job creation at the fastest pace in 21 months. On prices, input prices continued to rise, pushing prices charged higher as service providers passed part of their additional cost burdens through to clients. Finally, business sentiment improved to the highest since May 2013.

India Services PMI History

Last 12 readings

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