India services growth hits four-month high in October
In short
India's services sector grew faster in October and reached a four-month high. The HSBC services index rose to 55.8, helped by strong demand and more business orders. Manufacturing slowed a bit to 54.7.
The slower rise in input prices may help companies manage costs, even though prices are still going up.
What the reporting says
India's services sector growth rose to a four-month high in October as strong domestic demand and new business orders lifted activity, according to the HSBC Services Business Activity Index. The index increased to 55.8, while manufacturing activity eased slightly to a PMI of 54.7. Input prices continued to rise, but at the slowest pace in more than six years, suggesting easing cost pressure for businesses.
Why it matters
India's services activity strengthened in October, with the HSBC Services Business Activity Index rising to 55.8 on strong domestic demand and business orders. Manufacturing activity softened slightly to a PMI of 54.7. Input prices kept rising, but the pace of increase was the slowest in over six years, which points to some easing in cost pressures for firms.