India’s HSBC Services PMI dropped to 57.7 in September from 60.9 in August, signaling strong ongoing expansion despite a moderation in growth.
The HSBC India Services Purchasing Managers’ Index indicated a moderation in growth for September, dropping to 57.7 compared to the 60.9 recorded in August. While this marks a deceleration, the index remains well above the 50-point threshold that separates expansion from contraction, signaling continued health in the sector.
- 57.7: HSBC India Services PMI level for September.
- 60.9: Previous index level recorded in August.
- 50: Threshold separating economic expansion from contraction.
The report highlights that while new business inflows and overall demand remain robust, the pace of growth has eased. Companies continue to face inflationary pressures, which have influenced pricing strategies across the board.
Despite the cooling momentum, businesses remain optimistic about future growth prospects, supported by a steady pipeline of new projects and sustained consumer demand. Simultaneously, the broader economic landscape continues to witness a dual trend marked by a shift in stock market composition alongside services sector developments.
