New Delhi, March 4 -- Output growth across India's service economy was broadly stable heading towards the end of the current fiscal year, despite new orders rising at the slowest pace since January 2025, according to the HSBC India Services PMI report.

Business confidence is reported to be at its highest level in a year. Elsewhere, companies signalled faster increases in input costs and output charges.

Registering 58.1 in February, the seasonally adjusted HSBC India Services PMI Business Activity Index - based on a single question asking how the level of business activity compares with the situation the month before - was broadly similar to January's reading of 58.5 and therefore indicated another sharp expansion in output.

Business ac...