India's services PMI softens in April
Notably, the expansion in total sales and output were the fastest in 14 years.
Notably, the expansion in total sales and output were the fastest in 14 years.
February data highlights a notable upturn in demand across the service sector, with inflows of new business expanding for the thirty-first month running.
During the month under review, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low.
According to S&P Global, a key feature of the latest results was a substantial easing of price pressures.
The latest PMI reading remains above its long-run average of 53.9.
New orders, the largest sub-component of the PMI, rose at a softer pace in September.
S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 57.2 in April to 58.7 in May
In January, the services PMI stood at 57.2, whereas it was 58.5 in December.
CEA's provisional data up to November 2022 shows the total energy requirement was 1017 BU and the availability was 1012 BU, a fall of just 5,691 million units or -0.6%.
Indian service providers welcomed stronger expansion in new work intakes, with a quicker upturn in business activity and the sharpest rise in employment for over 14 years, shows S&P Global India data