Business Economy 07 Oct 2022 Services PMI falls t ...

Services PMI falls to 6-month low in Sept.

FINANCIAL CHRONICLE | FC BUREAU
Published Oct 7, 2022, 6:10 pm IST
Updated Oct 7, 2022, 6:10 pm IST
The S&P Global India Services Purchasing Managers' Index fell to 54.3 in September from August's 57.2, a private survey showed on Thursday. (File image)
 The S&P Global India Services Purchasing Managers' Index fell to 54.3 in September from August's 57.2, a private survey showed on Thursday. (File image)

New Delhi: With the weaker sales and inflationary pressures, India's services sector activity hit a six-month low in September, the weakest pace since March. The S&P Global India Services Purchasing Managers' Index fell to 54.3 in September from August's 57.2, a private survey showed on Thursday.

A reading above 50 indicates expansion in activity. However, the data highlighted a loss of momentum in the growth of private firms.

"The Indian service sector has overcome many adversities in recent months, with the latest PMI data shows a strong performance, despite some loss of growth momentum in September," said Polly-anna De Lima, economics associate director at S&P Global Market.

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Location: India, Delhi, New Delhi




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