Articles for tag: Cost, FiveMonth, High, Hits, Indias, PMI, Pressures, Sector, Services, Surges

September 4, 2024

India’s Services Sector Surges: PMI Hits Five-Month High Amid Cost Pressures

India’s services sector saw its strongest growth in five months, with the Services Purchasing Managers’ Index (PMI) rising to 60.9 in August, up from 60.3 in July. This marks an ongoing expansion above the crucial 50-point mark since August 2021, driven by increased domestic orders and resilient demand despite a slight dip in international orders. ...

September 2, 2024

Market News

Business

Indian Manufacturing Slumps: PMI Falls to Three-Month Low Amidst Competition

In August 2024, India’s manufacturing growth slowed to a three-month low, with the Purchasing Managers Index (PMI) dropping to 57.5 from 58.1 in July. Despite the decline, any PMI figure above 50 indicates expansion. The slowdown was attributed to softer growth in new orders and output, partly due to intense competition. However, input cost inflation ...