India’s services sector recorded its strongest growth in three months in September, driven by a sharp rise in new orders and robust domestic demand, according to the latest PMI survey.
The seasonally adjusted HSBC India Services PMI Business Activity Index climbed to 55.2 in September, up from 54.1 in August, marking the fastest expansion since June.
Despite the monthly improvement, services activity remained relatively subdued on a quarterly basis. The report noted that growth during the second fiscal quarter was the weakest since the quarter ended March 2022.