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Informist, Thursday, Nov. 6, 2025

 

--India Oct services PMI 58.9 vs 60.9 in Sept 
--India Oct composite PMI 60.4 vs 61.0 in Sept 

 

NEW DELHI – India's services sector activity moderated to a five-month low in October with the HSBC India Services Purchasing Managers' Index easing to 58.9 from 60.9 in September, S&P Global said Thursday. Although the October data showed softening, there was substantial expansion in Indian services output and new business, S&P Global, which compiles the PMI, said in a release.

 

At 58.9, the final services PMI was higher than the flash estimate of 58.8, which was released on Oct. 24. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction. 

 

"Competitive pressures and heavy rains were cited as contributors to the sequential slowdown," Pranjul Bhandari, chief India economist at HSBC, said in the release. "That said, the services PMI is still running well above the neutral level of 50.0 and its long-run average."

 

However, input costs increased at the slowest rate in 14 months, which provided some relief for firms, the press release mentioned. The Goods and Services Tax reforms, implemented by the Indian government on Sept. 22, helped curb price pressure.

 

New business intakes rose sharply in October, although to the least extent in five months, S&P Global said in the release. "Nevertheless, they continued to cite positive demand trends and successful marketing," S&P Global added.

 

International demand for Indian services also improved further, as signalled by another increase in external sales, the release said. The rate of expansion was solid, though the weakest since March.

 

Amid reports of efforts to support rising intakes of new business, meet delivery deadlines and maintain reliable services, companies recruited additional staff in October. The rate of job creation was slight, however, and the joint-softest in a year-and-a-half (equal to July), the release said.

 

The composite PMI eased in October to 60.4 from 61.0 in September. Data released Monday showed India's manufacturing PMI rose to 59.2 in October from 57.7 in September.  End

 

Reported by Krity Ambey

Edited by Deepshikha Bhardwaj

 

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