India's services sector growth hits three-month high in September on strong domestic demand: PMI
India, Oct. 6 -- India's services sector growth accelerated to a three-month high in September, driven by a sharp rise in new orders amid strengthening domestic demand, according to a monthly survey released on Tuesday.
The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September from 54.1 in August, signalling the strongest expansion since June.
Despite the monthly improvement, the sector's average growth during the second fiscal quarter remained below that of the previous quarter and was the weakest since the three months to March 2022, the report said.
In the Purchasing Managers' Index (PMI), a reading above 50 indicates expansion, while a score below 50 represents contraction.
The survey, compi...
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