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Informist, Wednesday, Dec. 3, 2025

 

--India Nov services PMI 59.8 vs 58.9 in Oct 

--India Nov composite PMI 59.7 vs 60.4 in Oct 

 

NEW DELHI – India's services sector activity accelerated in November with the HSBC India Services Purchasing Managers' Index rising to 59.8 from a five-month low of 58.9 in October, S&P Global said Wednesday. The rise was led by higher new business intakes even as international sales grew at the slowest pace in eight months, S&P Global, which compiles the S&P, said in a release.

 

At 59.8, the final services PMI for November was higher than the flash estimate of 59.5, which was released on Nov. 21. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction.

 

The composite PMI eased in November to a six-month low of 59.7 from 60.4 in October. Data released Monday showed India's manufacturing PMI fell to a nine-month low of 56.6 in November as the 50% tariff by the US hit export orders.

 

While international demand for Indian services slowed in November, firms reported higher demand from Asia, Europe, and West Asia. "Concurrently, panel member reports showed that fierce international competition and the supply of cheaper services elsewhere constrained growth," S&P Global said. 

 

Indian services companies saw a marginal increase in their expenses last month with outlays on electricity, food, rent, and software subscriptions rising. "Underlying data showed that positive demand trends were supported by a general absence of price pressures," S&P Global said. "There was only a negligible uptick in selling charges, as input cost inflation retreated to its lowest in nearly five-and-a-half years."

 

As cost pressures eased, a smaller proportion of services firms increased their own fees in November, S&P Global said. "Having eased to its lowest in over four years, the overall rate of charge inflation was negligible."

 

The rate of job creation in the services sector was moderate and similar to the previous two months, S&P Global said. Employment growth was restricted by the absence of pressure on firms' operating capacities, it added.

 

Year-ahead optimism among firms faded during November amid concerns around competition and potential disruptions from "state assembly elections". "Firms still foresee output growth, however, with positive sentiment linked to favourable demand, a greater social media presence, marketing initiatives and plans to keep price increases to a minimum," S&P Global said.  End

 

Reported by Shubham Rana

Edited by Deepshikha Bhardwaj

 

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