May 26, 2024 20:29 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Man-made disaster': Gujarat High Court takes suo motu cognizance of Rajkot gaming zone fire that killed 27 people | Payal Kapadia's Indian film All We Imagine As Light wins Grand Prix Award at Cannes | 'Was told to take the blame': Pune Porsche teen's grandfather told driver to take responsibility for crash | 24 killed in gaming zone fire in Gujarat’s Rajkot; PM Modi expresses grief | INDIA bloc performing mujra for vote bank, says Prime Minister Narendra Modi launching a scathing attack on opposition parties
India's services PMI shows marginal slowdown in April
Photo Courtesy: Unsplash/ Annie Spratt

India's services PMI shows marginal slowdown in April

| @indiablooms | 06 May 2024, 06:44 pm

Growth in India's dominant services sector showed a marginal slowdown in April, as per data shown by the  Purchasing Managers’ Index (PMI) figure, released by HSBC.

The figures slid to 60.8 in April from 61.2 recorded in March.

The survey noted that in addition to buoyant domestic demand, firms saw new business gains from several parts of the world, which collectively underpinned the second-quickest upturn in international sales since the series started in September 2014, reported Business Standard.

“Survey members attributed the latest upturn in output to favourable economic conditions, demand strength and rising intakes of new work,” the survey noted.

The April figures showed the 33rd month for which the index remained above the 50-mark since July 2021.

“Notably, services companies observed the second-fastest increase in new export business in the near ten-year series history, behind only that seen in March. Anecdotal evidence highlighted gains from several countries in Asia, Africa, Europe, the Americas and Middle East,” the survey noted as quoted by Business Standard.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.