PMI Services

No change in employment seen neither in services nor in manufacturing, says PMI survey

New orders placed with services companies increased in January, marking the eighteenth month of expansion

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

The quality of some of the important economic statistics put out by the govt - for much of which there can be no comparable private substitute - remain questionable and undependable, writes T N Ninan

Growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation

Rebound due to gains in new business, improvements in demand, and overtime work: Survey

The domestic market remained the key source of sales growth as international demand for Indian services worsened further, the survey said

The PMI decreased to 55.5 in July 2022 from 59.2 in June

Unrelenting inflation continued to worry businesses that were cautiously optimistic about the year-ahead outlook for business activity

The jump in the services PMI corroborates the view that the services sector will lead the growth recovery in FY2023, says Aditi Nayar of Icra

Overall demand rose at the fastest pace since July 2011 as economic activity continued to normalise with the lifting of pandemic restrictions

Demand showed signs of resilience in May, improving further in spite of another uptick in selling prices

However, companies resumed hiring in April, as seen by the first increase in employment since November

The IHS Markit Services Purchasing Managers' Index accelerated to 58.4 last month from 55.2 in September, above the 50-mark separating growth from contraction.

Activity in India's dominant services industry shrank for a third consecutive month in July as restrictions to control the pandemic hit demand, with companies turning the most pessimistic in a year

This is expected to affect GDP growth rate during April-June quarter

Overall demand contracted at the sharpest rate since August, with foreign demand shrinking at the fastest pace since November

China's services sector activity expanded at a slower pace in December, a private sector survey showed on Wednesday, as sporadic coronavirus outbreaks tempered the recovery in consumer confidence

Activity in Japan's services sector extended its run of declines to the 11th month in December, a private sector survey showed, as a new wave of coronavirus led to a contraction in business conditions