Service PMI

Driven by robust demand in both manufacturing and service sectors, PMI in April climbed to 62.2 from March's final reading of 61.8

Strong demand, easing price pressures amid mild job creation drive index

The S&P Global India Services Purchasing Managers' Index rose from 57.2 in January to 59.4 in February, its highest since February 2011 and considerably above all forecasts

The Caixin/S&P Global services PMI rose to 48.0 in December from 46.7 in November, but remained below the 50-point mark, which indicates contraction in activity, for a fourth straight month

PMI for services sector released by S&P Global dipped to 54.3 in September from 57.2 in August as weak external demand weighed on overall sales, with international order declining during the month

Mukesh Ambani on Friday regained his spot as Asia's richest man, surpassing his rival Gautam Adani, as a report said that the difference between the two billionaires was 'just $1 billion

India's services sector activity moderated to a six-month low in January, amid imposition of restrictions across the country due to the Omicron variant as well as inflationary pressures

Data released by the analytics firm IHS Markit showed that the Purchasing Managers' Index (PMI) for services fell to 55.5 in December from 58.1 in November

The macroeconomic data helped investors overlook the impact of the rising Covid cases and new restrictions imposed by many states

Ahead of MPC meet, data shows input price pressures rise

Inflation at six-month high keeps business confidence muted but companies generate highest employment since pre-Covid period of February 2020

The market is still feeling the aftereffects of the Fed's surprise projection last week for rate hikes as soon as 2023, which knocked stocks

The IHS India Services Business Activity Index eased to 54.6 in March from 55.3 in February, suggesting moderation in growth

Firms continued to bear elevated cost pressures but only passed some of it to consumers to stay competitive

The index was above the critical 50 mark that separates growth from contraction for the fifth month in a row during February

While all three broad areas of the manufacturing industry recorded expansion, consumer goods segment led the growth, the only sector to see a stronger rate of increase

The companies indicated that sales growth was underpinned by resilient demand, though curbed by the Covid-19 pandemic

Asia's third-largest economy and the second most affected country by the pandemic contracted 7.5% in the July-September quarter

As in the manufacturing sector, employment declined for successive months in services sector too.

Job losses continue as domestic demand struggles as lockdowns return in states and export orders vanish