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Hans India
3 days ago
- Business
- Hans India
PMI services at 11-mth high in July
New Delhi: The Indian services sector growth touched an 11 month high in July, supported by a pickup in new exports orders and sharp rise in overall sales, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 60.5 in July, little-changed from 60.4 in June, and the rate of expansion was the best seen since August 2024. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. 'At 60.5, the services PMI indicated a strong growth momentum, led by a pick-up in new export orders,' said Pranjul Bhandari, Chief India Economist at HSBC. Sustained increases in new business intakes were the main aspect behind output growth, the survey said, adding that Indian service providers also welcomed a stronger improvement in international demand for their services. 'They reportedly secured new work from Asia, Canada, Europe, the UAE and the US,' it said. Going ahead, service providers were on average optimistic about their expectations for output in the year ahead. Among the factors supporting business confidence were efficiency gains, marketing, tech innovation and a growing online presence, they said. On the price front, input costs and output charges rose at faster rates than in June. 'The solid rise in output prices reflected greater cost burdens and demand strength,' the survey said. 'On the price front, both input and output prices rose a tad faster than in June, but this could change going forward as indicated by the recent CPI and WPI prints,' Bhandari said. The Consumer Price Index (CPI) based retail inflation has remained below 4 per cent since February. It was at 2.1 per cent in June. The wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June. Meanwhile, RBI Governor Sanjay Malhotra-headed rate-setting panel on Monday started the three-day deliberations to decide the next bi-monthly monetary policy amid expectations of a pause in the rate easing cycle.
Economic Times
3 days ago
- Business
- Economic Times
India's services growth scales 11-moth peak in July on global orders
Synopsis India's services sector expanded at its fastest pace in 11 months in July, with the HSBC India Services PMI rising to 60.5 from 60.4 in June, driven by strong new orders and rising international demand, especially from Asia, the US, and Europe. While optimism remained firm, job growth slowed to a 15-month low. Input and output prices rose slightly amid cost pressures. ANI India's services sector growth scaled an 11-month high in July, driven by an increase in new orders, international sales and output, a private survey showed on Tuesday. The HSBC India Services PMI Business Activity Index touched 60.5 in July, the highest since August 2024 and a shade above 60.4 in June, according to the index compiled by S&P Global. A year earlier, the reading was Managers' Index (PMI) readings above 50 indicate expansion, while those below denote contraction. "At 60.5, the services PMI indicated a strong growth momentum, led by a pickup in new export orders," said Pranjul Bhandari, India chief economist at expansion in output was primarily due to sustained increases in new business, with survey respondents attributing it to advertising, demand buoyancy and new client rise in July was the second strongest in the past year, following the performance in demand also saw a sharp increase, with firms securing new work from Asia, Canada, Europe, the UAE and the US. The rate of growth in external sales was the second-fastest in a year, after that in May. The finance and insurance sector led in both new orders and business activity, while real estate and business services recorded the slowest expansion. On average, service providers remained optimistic about future output, supported by expectations of efficiency gains, marketing, tech innovation and a growing online presence. However, Bhandari added that even as optimism regarding the future rose, it remained below the levels seen in the first half of gains were modest, with July recording the weakest job growth in 15 months."Fewer than 2% of companies took on additional staff, with the vast majority indicating no change from June," said the survey pressures persisted, with firms citing higher expenses on food, freight and labour. On the other hand, charge inflation was above its long-run average, reflecting greater cost burdens and demand strength."On the price front, both input and output prices rose a tad faster than in June, but this could change going forward as indicated by the recent CPI (Consumer Price Index) and WPI prints," said Bhandari.
Time of India
3 days ago
- Business
- Time of India
India's services growth scales 11-moth peak in July on global orders
India's services sector growth scaled an 11-month high in July, driven by an increase in new orders, international sales and output, a private survey showed on Tuesday. The HSBC India Services PMI Business Activity Index touched 60.5 in July, the highest since August 2024 and a shade above 60.4 in June, according to the index compiled by S&P Global. A year earlier, the reading was 60.3. Purchasing Managers' Index (PMI) readings above 50 indicate expansion, while those below denote contraction. "At 60.5, the services PMI indicated a strong growth momentum, led by a pickup in new export orders," said Pranjul Bhandari, India chief economist at HSBC. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The expansion in output was primarily due to sustained increases in new business, with survey respondents attributing it to advertising, demand buoyancy and new client onboarding. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. The Noodle Box Undo ET Bureau The rise in July was the second strongest in the past year, following the performance in June. Overseas demand also saw a sharp increase, with firms securing new work from Asia, Canada, Europe, the UAE and the US. The rate of growth in external sales was the second-fastest in a year, after that in May. The finance and insurance sector led in both new orders and business activity, while real estate and business services recorded the slowest expansion. Live Events On average, service providers remained optimistic about future output, supported by expectations of efficiency gains, marketing, tech innovation and a growing online presence. However, Bhandari added that even as optimism regarding the future rose, it remained below the levels seen in the first half of 2025. Employment gains were modest, with July recording the weakest job growth in 15 months. "Fewer than 2% of companies took on additional staff, with the vast majority indicating no change from June," said the survey report. Cost pressures persisted, with firms citing higher expenses on food, freight and labour. On the other hand, charge inflation was above its long-run average, reflecting greater cost burdens and demand strength. "On the price front, both input and output prices rose a tad faster than in June, but this could change going forward as indicated by the recent CPI (Consumer Price Index) and WPI prints," said Bhandari.
Business Standard
4 days ago
- Business
- Business Standard
India July PMI sends mixed signs on performance of the private sector
The ongoing improvements in demand for Indian services continued to underpin growth of total new orders, international sales and output. Although the upturn added pressure on firms' capacity, hiring moderated. July's increase in employment was the slowest in 15 months, despite strengthening business confidence. Meanwhile, input costs and output charges rose at faster rates than in June. At 60.5 in July, the seasonally adjusted HSBC India Services PMI Business Activity Index based on a single question asking how the level of business activity compares with the situation the month before was little-changed from 60.4 in June and therefore signalled another sharp increase in output. The rate of expansion was the best seen since August 2024. The PMI results for July revealed mixed signs regarding the performance of the Indian private sector. New orders and output expanded at quicker rates, while job creation receded and business optimism faded. Meanwhile, inflationary pressures gathered pace. The HSBC India Composite PMI Output Index was up fractionally from 61.0 in June to 61.1 in July, indicating a sharp rate of expansion that was the quickest since April 2024.
Hans India
4 days ago
- Business
- Hans India
Indian services sector growth hits 11-month high in July on sharp rise in exports, overall sales
The Indian services sector growth touched an 11 month high in July, supported by a pickup in new exports orders and sharp rise in overall sales, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 60.5 in July, little-changed from 60.4 in June, and the rate of expansion was the best seen since August 2024. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. "At 60.5, the services PMI indicated a strong growth momentum, led by a pick-up in new export orders," said Pranjul Bhandari, Chief India Economist at HSBC. Sustained increases in new business intakes were the main aspect behind output growth, the survey said, adding that Indian service providers also welcomed a stronger improvement in international demand for their services. "They reportedly secured new work from Asia, Canada, Europe, the UAE and the US," it said. Going ahead, service providers were on average optimistic about their expectations for output in the year ahead. Among the factors supporting business confidence were efficiency gains, marketing, tech innovation and a growing online presence, they said. On the price front, input costs and output charges rose at faster rates than in June. "The solid rise in output prices reflected greater cost burdens and demand strength," the survey said. "On the price front, both input and output prices rose a tad faster than in June but this could change going forward as indicated by the recent CPI and WPI prints," Bhandari said. The Consumer Price Index (CPI) based retail inflation has remained below 4 per cent since February. It was at 2.1 per cent in June. The wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June. Meanwhile, RBI Governor Sanjay Malhotra-headed rate-setting panel on Monday started the three-day deliberations to decide the next bi-monthly monetary policy amid expectations of a pause in the rate easing cycle. Governor Malhotra-headed six-member rate-setting panel -- the Monetary Policy Committee (MPC) -- is scheduled to announce the next bi-monthly policy rate on Wednesday (August 6). Experts were of the opinion that the Reserve Bank may go in for a status quo this time and wait for more macro data after the announcement by the US to impose a 25 per cent tariff on Indian imports beginning August 7. On the jobs front, Although the upturn added pressure on firms' capacity, hiring moderated. July's increase in employment was the slowest in 15 months. "The rate of job creation was only slight, broadly converging to its long-run average. Fewer than 2 per cent of companies took on additional staff, with the vast majority indicating no change from June," the survey said. Meanwhile, the HSBC India Composite PMI Output Index was up fractionally from 61.0 in June to 61.1 in July, indicating a sharp rate of expansion that was the quickest since April 2024. Composite PMI indices are weighted averages of comparable manufacturing and services PMI indices. Weights reflect the relative size of the manufacturing and service sectors, according to official GDP data. The PMI results for July revealed mixed signs regarding the performance of the Indian private sector. "New orders and output expanded at quicker rates, while job creation receded and business optimism faded. Meanwhile, inflationary pressures gathered pace," the survey said. The HSBC India Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies.
