Services sector PMI reaches 3-month high in September
New Delhi, Oct. 7 -- Growth in India's service sector reached a three-month high in September, according to the HSBC India Services Purchasing Managers' Index (PMI) data released by S&P Global on Tuesday. However, the average for the quarter ending September was the weakest since March 2022.
The headline Services Business Activity Index rose to 55.2 in September from 54.1 in August. September was the second consecutive month of acceleration after the index fell from 57.4 in June to 53.3 in July. To be sure, all readings above 50 indicate expansion.
The composite index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, was also at a three-month high in September. The composite index stood...
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