Story perspectives
India's Services PMI Hits 59.3, Signals Strong Growth
1/6/2025
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Story summary
- India's services sector closed 2024 on a high note, with the HSBC Services PMI reaching 59.3 in December, marking over three years of growth.
- Strong demand and hiring practices fueled this expansion, despite a minor dip from November's peak.
- Eased inflation and robust global demand bolstered business confidence and activity.
- The Composite PMI rose to 59.2, showcasing strong services growth even as manufacturing faced declines.
