Services sectors activity in India, declines first time in a year: HSBC reports
The Dollar Business Bureau The service sector activity of India experienced a plunge for the first times in the last 13 months, as per the HSBC survey report. The reason being the decline of new order flows amid competitive pressure and natural disasters. The HSBC India service activity index, which tracks the changes in the activity of the service companies, fell to 49.6 in May from 52.4 in April since the output prices in the private sector rose further, with the rate of inflation being the strongest in the last 13 months. The reports also stated that competitive outflows and the natural disaster, resulting in decline of the new business inflows, which surged for the first time since April. The index hit ...
Outlook for services output in current fiscal positive: HSBC Survey
The Dollar Business Bureau Hopes of better economic conditions and forecasts of stronger demand contributed to positive sentiment regarding the outlook for services output in the coming 12 months, said the HSBC India Services Business Activity Index. Moreover, the level of optimism signalled in April was the highest since January. Among the six observed categories, confidence was strongest at Hotels & Restaurants, said the survey. Down to a three-month low of 52.4 in April (March: 53.0), the Index pointed to a modest and softer rise in output across the sector. Where growth was noted, this was linked by firms to higher volumes of incoming new business. By category, the quickest increase was seen in Post & Telecommunication, while Hotels & Restaurants was ...
Private sector output rises for eleventh month running: HSBC Survey
The Dollar Business Bureau Business activity in the Indian private sector economy expanded for the eleventh consecutive month in March. Adjusted for seasonal influences, the headline HSBC India Composite PMI Output Index fell marginally from 53.5 in February to 53.2 in March, indicating a marked rate of growth, said a HSBC Survey. Whereas manufacturing production expanded at an accelerated pace, services activity growth moderated. The seasonally adjusted HSBC India Services Business Activity Index posted 53.0 in March (February: 53.9). The latest reading was indicative of a moderate rate of expansion that was slightly weaker than in the prior month. Sources highlighted sustained new business growth. Output rose in four of the six broad areas of the service economy, the exceptions being Financial Intermediation ...
