India’s services growth slows to five-month low in October as export demand softens | Mint
India’s services sector experienced slower growth in October, according to the latest HSBC India Services Purchasing Managers’ Index (PMI). The index slipped slightly as new business inflows softened, though overall expansion remained solid. Despite the moderation in services, India’s manufacturing sector showed signs of recovery, driven by improved demand and stronger output levels. The combined performance of manufacturing and services indicates that India’s overall private sector activity remains resilient, although price pressures and global uncertainties persist. Analysts believe the current phase reflects a natural cooling after months of rapid expansion. Business confidence remains optimistic, supported by stable domestic demand and expectations of stronger future growth. The data highlights India’s economic stability, with a balanced performance across sectors despite global headwinds.
The Key points
- HSBC India Services PMI slowed slightly in October.
- Growth in new business orders eased.
- Manufacturing activity rebounded after recent weakness.
- Overall private sector expansion stayed positive.
- Domestic demand supported steady growth trends.
- Price pressures remained moderate despite global inflation.
- Employment levels in services continued to improve.
- Business confidence stayed strong across industries.
- Analysts view slowdown as temporary normalization.
- India’s economy shows resilience amid global uncertainty.
Disclaimer: This preview includes title, image, and description automatically sourced from the original website (www.livemint.com) using publicly available metadata / OG tags. All rights, including copyright and content ownership, remain with the original publisher. If you are the content owner and wish to request removal, please contact us from your official email to no_reply@newspaperhunt.com.
