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NIFTY 50·23,523.10+0.82%SENSEX·77,346.06+0.62%IPOs·83.21−0.12%GOLD·$82.45−1.80%NIFTY 50·23,523.10+0.82%SENSEX·77,346.06+0.62%IPOs·83.21−0.12%GOLD·$82.45−1.80%

RBI

India Services PMI Slips to 57.4 as Domestic Demand Weakens.

2 months ago · Lumic

India Services PMI chart showing a slight dip in growth, with export orders providing support.
Lumic
2 months ago
India Services PMI Slips to 57.4 as Domestic Demand Weakens.
KEY TAKEAWAYS
India's Services PMI eased to 57.4 in June, marking the slowest expansion in 17 months.
Softer domestic demand and weaker client interest slowed new business and hiring activity
Export orders grew at the fastest pace in three months, partially offsetting local weakness
Export demand is helping cushion softer domestic growth
Business Standard·2 months ago

This 'Insights' piece from Lumic delves into the latest HSBC India Services PMI data, which shows a dip to 57.4 in June. While still indicating robust expansion, this marks the slowest growth in 17 months. The report highlights how softening domestic demand and reduced client interest are impacting new business and hiring activity within India's service sector. However, it's not all subdued news; export orders are seeing their fastest growth in three months, providing a welcome cushion against the domestic slowdown. This analysis provides crucial context for understanding current market trends and the broader Indian economy. Keep track of these economic indicators with Lumic for informed financial news and market perspectives.

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