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What is Services PMI?
Latest Updates on Services PMI
The headline figure has now been in the expansion zone for seventeen consecutive months since August 2021
The headline figure has been in the expansion zone for the sixteenth consecutive month since August 2021
Services PMI released by credit rating agency S&P Global improved to 55.1 in October from 54.3 in September
"During the quarter, inflation was at peak levels which impacted gross margins," Dabur said in a regulatory filing
Growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation
CLOSING BELL: JSW Steel, Hindalco, Coal India, L&T, Tata Steel, ICICI Bank, HCL Tech, Axis Bank, Tata Motors, Tata Consumer Products, Shree Cement, and Wipro were the top gainers
Rebound due to gains in new business, improvements in demand, and overtime work: Survey
Unrelenting inflation continued to worry businesses that were cautiously optimistic about the year-ahead outlook for business activity
Overall demand rose at the fastest pace since July 2011 as economic activity continued to normalise with the lifting of pandemic restrictions
However, companies resumed hiring in April, as seen by the first increase in employment since November
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A sub-index for new business in the survey stood at 51.1 in January, slower than the long-run series average and below 52.5 in the previous month
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The IHS Markit Services Purchasing Managers' Index eased to 55.2 in September from August's 18-month high of 56.7, but stayed comfortably above the 50-mark separating growth from contraction.
If the trend persists in September, it may give further boost to services growth in the country in Q2FY22
The IHS Markit Services Purchasing Managers' Index rose to 56.7 in August - its strongest pace since the pandemic hit the country in March 2020.
Smaller manufacturers are resorting to cuts in the wage bill to keep afloat, as the demand situation in the economy remains low
Overall demand contracted at the sharpest rate since August, with foreign demand shrinking at the fastest pace since November
The index was above the critical 50 mark that separates growth from contraction for the fifth month in a row during February
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