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Informist, Monday, Oct. 6, 2025

 

--India Sept services PMI 60.9 vs 62.9 in Aug 

--India Sept composite PMI 61.0 vs 63.2 in Aug 

 

NEW DELHI – India's services sector activity moderated in September with the HSBC India Services Purchasing Managers' Index easing to 60.9 last month from an over 15-year high of 62.9 in August, S&P Global said Monday. Despite the moderation in activity, demand remained healthy in India's services sector in September, S&P Global, which compiles the PMI, said in a release.

 

At 60.9, the final services PMI was lower than the flash estimate of 61.6, which was released on Sept. 23. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction.

 

"Business activity in India's services sector eased in September from the recent-high August level," Pranjul Bhandari, chief India economist at HSBC, said in the release. "Most trackers moderated but nothing in the survey suggested there is a big loss in growth momentum in services."

 

While demand buoyancy and new business gains supported the rise in services sector output, competitive conditions and cost-control measures hindered growth, S&P Global said. The slowdown in services reflected a slower increase in international demand for Indian services, S&P Global added.

 

Services exports in September rose at the slowest pace since March. "Companies identified the supply of services at lower prices elsewhere as the main factor behind the slowdown in growth of export orders," S&P Global said.

 

Services firms reported a rise in expenses last month, with higher outlays on labour and materials from August. The rate of input cost inflation was lower than August, which helped curtail charge inflation.

 

Job creation slowed during September with less than 5% of surveyed services companies reported hiring growth, S&P Global said. Firms' outlook on year-ahead growth prospects improved in September, with the overall level of positive sentiment at a six-month high. "Survey participants identified several tailwinds to the year-ahead outlook for activity, including advertising, efficiency gains, plans to price competitively and tax cuts," S&P Global said. 

 

The composite PMI eased in September to 61.0 from 63.2 in August, which was the highest print in over 17 years. Data released Wednesday showed India's manufacturing PMI fell to 57.7 in September from 59.3 in August.  End

 

Reported by Shubham Rana

Edited by Akul Nishant Akhoury

 

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