Financial News: India Services Growth Strongest In 4 Months

India Services Growth Strongest In 4 Months

01/06/2025 - 01:48:00 (RTTNews)

(RTTNews) - India's services activity expanded at an accelerated pace at the end of the year, spurred by buoyant demand conditions, final data from S&P Global showed on Monday.

The HSBC final services Purchasing Managers' Index climbed to 59.3 in December from 58.4 in the previous month. A reading above 50 indicates expansion in the sector. The flash score was 60.8.

New orders grew at the quickest pace in four months amid strong demand environment. Among sub-sector levels, finance and insurance again registered the fastest gains in new business and activity.

On the price front, input price inflation eased in December from November's 15-month high. Output price inflation stayed above its long-run trend, despite slowing from the prior month.

Looking ahead, service companies remained confident about output expectations over the next year on the back of expanded capacities, new customer inquiries, and budget allocation towards marketing.

Increased new business, optimistic projections, and rising capacity pressures all forced firms to increase their workforce numbers in December, but the pace of job creation softened since November. The composite output index rose to 59.2 in December from 58.6 in November, indicating another sharp rate of expansion in the Indian private sector.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In January (11 hr(s), 08 min(s), 17 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Eurozone Private Sector Grows In January (11 hr(s), 33 min(s), 17 sec(s) ago)
(RTTNews) - Euro area private sector returned to growth in January as the contraction in manufactu ...Full Story»

U.S. Existing Home Sales Jump Much More Than Expected In December (11 hr(s), 43 min(s), 17 sec(s) ago)
(RTTNews) - A report released by the National Association of Realtors on Friday showed existing ho ...Full Story»

Slovenia Consumer Confidence Weakens Slightly (12 hr(s), 54 min(s), 17 sec(s) ago)
(RTTNews) - Slovenian consumers remained slightly more pessimistic at the start of the year, figur ...Full Story»

Hungary Jobless Rate Falls To 4.4% (13 hr(s), 24 min(s), 17 sec(s) ago)
(RTTNews) - Hungary's unemployment rate increased during the October-December period, data fro ...Full Story»

Taiwan Q4 GDP Growth Eases To 1.84% (13 hr(s), 53 min(s), 17 sec(s) ago)
(RTTNews) - Taiwan's economy continued to expand in the final quarter of 2024, though at the ...Full Story»

UK Private Sector Logs Further Marginal Expansion (14 hr(s), 20 min(s), 17 sec(s) ago)
(RTTNews) - The UK private sector activity expanded at the fastest pace in three months in January ...Full Story»

Spain Producer Prices Rise 2.3% In December (15 hr(s), 28 min(s), 17 sec(s) ago)
(RTTNews) - Spain's producer prices increased for the second straight month in December amid a ...Full Story»