New Delhi, Aug 5 || Ongoing improvements in demand for the Indian services continued to support the growth of total new orders, international sales and output in the month of July, a report said on Tuesday.
At 60.5 in July, the seasonally adjusted Services PMI Business Activity Index was little-changed from 60.4 in June and, therefore, signalled another sharp increase in output, according to the HSBC India Services PMI for the month.
The rate of expansion was the best seen since August 2024, the report said.
"At 60.5, the services PMI indicated a strong growth momentum, led by a pick-up in new export orders. Future optimism rose but remained below H1 2025 levels," said Pranjul Bhandari, Chief India Economist at HSBC.
On the price front, both input and output prices rose a tad faster than in June, but this could change going forward, as indicated by the recent CPI and WPI prints, Bhandari added.