Key Points
Despite easing to 60.8 in April from 61.2 in the previous month, Indias service sector kept humming, recording one of the fastest growths in output in fourteen years, according to results of a private survey...
Indias service activity rose at a slightly softer pace in April, backed by a further rise in new orders, with a notable strength in domestic demand, said Pranjul Bhandari, chief India economist, HSBC...
The expansion in new orders was helped by a near-record upturn in services exports, the report noted, pointing to gains from several countries in Asia, Africa, Europe, the Americas and the Middle East...
On the inflation front, a rise in input inflation owing to wage pressures and higher food prices translated into charge or selling price inflation as companies passed on costs...
A backdrop of robust underlying demand enabled service providers to pass part of their additional cost burdens through to clients in the form of increased charges, the report noted...
