New Delhi, Sept. 3 -- India's services sector gained momentum in August, with stronger demand helping lift business activity and new orders, while hiring by services companies accelerated to its highest level in 15 months, according to the latest HSBC India Services PMI survey.
The seasonally adjusted HSBC India Services PMI Business Activity Index climbed to 54.1 in August from 53.3 in July. A reading above 50 indicates growth, while a reading below that mark signals contraction.
Despite the monthly improvement, the August reading remained relatively subdued. It was the second-lowest since March 2022 and came in slightly below the survey's long-term average of 54.5.
New business expanded at a faster pace in August, helped by firmer cust...