8 months ago
25
India's services activity expanded at the fastest pace in nearly a year in July amid strong growth in international sales, final data compiled by S&P Global showed on Tuesday.
The seasonally adjusted HSBC India Services PMI rose to 60.5 in July from 60.4 in June. The flash score was 59.8. A score above 50.0 indicates expansion.
New orders logged sustained growth in July, underpinned by fruitful advertising, demand buoyancy, and new client onboarding. Export orders grew at the second-fastest pace in a year amid more demand from Asia, Canada, Europe, the UAE, and the US.
On the price front, input price inflation accelerated in July due to higher costs for food, freight, and labor. As a result, the charge inflation also remained high, with the fastest rise in output charges noted at transport, information, and communication firms.
In July, the increase in employment was the slowest in fifteen months, despite strengthening business confidence.
The composite output index rose to 61.1 in July from 61.0 in June, indicating a sharp rate of expansion in the Indian private sector that was the quickest since April 2024.
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