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India Services Sector Expands as HSBC PMI Hits 59.9
India’s services sector grew with HSBC PMI at 59.
India’s HSBC Services PMI for October reached 59.9, indicating continued expansion in the services sector. The reading reflects increased business activity, new orders, and stronger hiring in financial services, IT, and professional services. Analysts highlight that this growth demonstrates resilience in domestic demand despite global economic uncertainty and inflationary pressures.
Companies in consulting, telecom, and logistics reported higher workloads, while service providers adapted to evolving client needs. The positive PMI trend supports investor confidence and suggests that corporate earnings in the services domain could remain robust in upcoming quarters.