Financial News: India Services Growth Slowest In 17 Months

India Services Growth Slowest In 17 Months

07/03/2026 - 02:59:00 (RTTNews)

(RTTNews) - India's services activity expanded at the weakest pace in nearly one-and-a-half years, as challenging market conditions and weaker demand hindered growth of total sales and output, final data compiled by S&P Global showed on Friday.

The seasonally adjusted HSBC India Services PMI dropped to 57.4 in June from 59.8 in May. A score above 50.0 indicates expansion. The flash score was 57.3.

The softer increase in services output in June was due to the slowest growth in new orders in over two-and-a-half years. The weaker sales growth was attributed to challenging market conditions and reduced client interest in services.

Consequently, employment was broadly unchanged as payroll numbers were sufficient for current requirements, and outstanding business volumes were broadly stable.

Meanwhile, export demand logged the strongest growth in three months, led by more client interest from Australia, Belgium, Canada, Germany, Malaysia, Nepal, Oman, Qatar, Singapore, the UAE, and the US.

On the price front, input costs rose further amid greater electricity, food, fuel, and transportation prices, though the rate of inflation eased to a 5-month low. As a result, selling price inflation moderated to the lowest since November 2025.

The composite output index decreased to 57.1 in June from 59.3 in May, indicating a sharp rate of Indian private sector expansion that was nevertheless the slowest since March.

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