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India Business News: India's services sector ended 2023 on a firm footing, with activity expanding at its fastest pace in three months in December on buoyant demand and an
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The Confederation of Indian Industry's Business Confidence Index showed that two-thirds of the respondents believed that sales and new orders rose faster in the second quarter of the ongoing financial year compared with the previous quarter, whereas more than half expected capacity utilisation to average 75-100% - five percentage points higher than the previous quarter.
The purchasing managers index fell to 57.5 in September, compared with at 58.6 in August, 57.7 in July, 57.8 in June and 58.7 in May, according to S&P Global.
The Caixin/S&P Global services purchasing managers' index (PMI) rose to 54.1 in July from 53.9 in June, marking an expansion of business activity across the services sector for the seventh straight month. However, the level of positive sentiment among companies moderated to an eight-month low and fell below the series long-run trend.