India services sector growth hits 3-month high in September
In short
India’s services sector grew faster in September, with the HSBC Services PMI at 55.2, a 3-month high. The Composite PMI also rose to 55.9.
The report says stronger domestic demand helped, but hiring and exports were weaker, so the quarter was still the slowest since early 2022. It is not clear how long the weaker trend will last.
What the reporting says
India’s services sector expanded at its fastest pace in three months in September, with the HSBC Services PMI rising to 55.2, according to a publisher summary. The report links the gain to stronger domestic demand, while noting that quarterly growth was the weakest since early 2022 because hiring and exports softened. Manufacturing strength also lifted the Composite PMI to 55.9. The exact breakdown of sector drivers was not fully stated.
Why it matters
India’s services activity improved in September as the HSBC Services PMI reached 55.2, while the Composite PMI rose to 55.9. The reporting says domestic demand strengthened, but quarterly growth remained the weakest since early 2022 because hiring and exports softened. This matters for the wider economy and markets, though the full durability of the recovery is not established in the available summary.