Key Points
HSBC India Services PMI is compiled by S&P Global stated: Rising from 60.6 in February to 61.2 in March, the seasonally adjusted HSBC India Services Business Activity Index pointed to one of the strongest growth rates seen in over 13-and-a-half years..
The report stated that March saw one of the strongest expansions in total sales and business activity, close to 14 years, helped by a series record in new export orders..
"Indias services PMI rose in March, following a small dip in February, on the back of strong demand that spurred sales and business activity..
Indias services PMI activity data comes a day after the manufacturing PMI for March that was recorded at a 16-year high of 59.1...
Substantial upturn in new business volumes added pressure on the capacities of services companies, and pending workloads increased for the 27th month straight, and the greatest extent since the start of 2023..
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