HSBC India publishes PMI at 55.2; Bhandari appointed Chief Economist
11 reports, 1 independent
Updated Oct 6
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AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
HSBC published its Services Purchasing Managers’ Index for India, which rose to 55.2 in September from 54.1 in August. This reading indicated expansion in business activity, remaining above the 50 mark for the 62nd consecutive month. The growth was driven by improved new orders and international demand, with finance & insurance and consumer services showing the highest expansion.
Why it matters
The report showed that India’s services sector growth reached a three-month high in September. This expansion was fueled by increased demand across digital solutions, food, insurance, loans, software, transportation, tours, and travel.