India Services PMI Rises To 55.2 In September On Stronger Domestic Demand
New Delhi, Oct. 6 -- India's services sector expanded at a faster pace in September, supported by stronger demand for financial, consumer and digital services, although the sector's quarterly growth remained the weakest in over four years, a survey showed.
The HSBC India Services PMI rose to 55.2 in September from 54.1 in August, though it was below the preliminary estimate of 55.8. A reading above 50 indicates expansion.
New business growth accelerated to its fastest pace since June, providing stronger support to overall activity.
However, international demand weakened, with export order growth slowing to its lowest level in nearly three years, indicating that domestic demand was the main driver of September's improvement. Employment ...
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