India Services PMI Rises In October, But Export Orders Expand At Slowest Pace Since Feb 2023
India Services PMI Rises In October, But Export Orders Expand At Slowest Pace Since Feb 2023
- ✓India Services PMI Rises In October, But Export Orders Expand At Slowest Pace Since Feb 2023
- ✓The Services PMI was comfortably above the neutral mark of 50.0 and its long-run average.
- ✓Encouragingly, input cost inflation retreated to its lowest mark since August 2020.
- ✓When assessing growth prospects, service providers were confident of a rise in output over the course of the coming 12 months, said the PMI data.
New Delhi, Nov 4 (IANS) Demand buoyancy fuelled growth of business activity and new orders across India's service economy in the month of October, as HSBC PMI came at 55.8 on Wednesday, rising from 55.2 in September which is the strongest pace of growth for four months.
The Services PMI was comfortably above the neutral mark of 50.0 and its long-run average. Encouragingly, input cost inflation retreated to its lowest mark since August 2020. Concurrently, prices charged for the provision of Indian services rose at the weakest rate since June, according to the PMI data.
India's composite PMI increased to 56.2 in October, from 55.9 in September, marking the fastest rise in aggregate output in four months and reflecting healthy business activity. Meanwhile, input and output prices continued to rise, but at a slower pace than in the previous month, signalling some relief from inflation pressures, she mentioned.
Also Read : Delhi Traders Seek Rs 11,000 Crore Compensation, Call For No-Protest Zone During Diwali All four broad areas of the service economy tracked by the PMI survey recorded quicker expansions in new business and output, with growth led by Finance & Insurance in both cases.
Real Estate & Business Services came last in the rankings. Underlying data showed that India's domestic market was the main source of sales growth in October. When assessing growth prospects, service providers were confident of a rise in output over the course of the coming 12 months, said the PMI data.
Meanwhile, the latest results showed that services companies made inroads into their backlogs. Unfinished business volumes decreased for the third time in the past four months, albeit only moderately. Consequently, employment growth eased during October.
Inflationary pressures were less pronounced in the service economy than in the manufacturing industry, the data showed. (This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.) India's service economy showed strong growth in October, with the HSBC Services PMI rising to 55.8.
This marks the strongest pace of growth recorded in four months, indicating robust business activity. Inflationary pressures in the services sector eased in October. Input cost inflation reached its lowest mark since August 2020, and prices charged rose at the weakest rate since June.
In October, the Finance & Insurance sector led in both new business and output growth within India's service economy. Conversely, Real Estate & Business Services ranked last in performance. New export orders in India's service economy continued to expand, but at the slowest pace recorded since February 2023.
The domestic market served as the main source of sales growth.
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| Issuing Authority | ABP News |
|---|---|
| Topic Category | BUSINESS |
| Jurisdiction | All India / National |
| Publication Date | 4 November 2026 |