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Services PMI plunged to 17-month low in June
Business Standard
|July 04, 2026
Market conditions weighed on sales, hiring
Growth in India’s services sector slowed to a 17-month low in June as challenging market conditions weighed on sales, output and hiring, a monthly private survey showed on Friday.
The HSBC India Services Purchasing Managers’ Index (PMI), which tracks monthly changes in services activity, fell to 57.4 in June from 59.8 in May. The June reading was the lowest since January 2025, when the index stood at 56.5.
“Behind the softer increase in services output was the slowest expansion in new order intakes in over two-and-a-half years. Several firms indicated that challenging market conditions and reduced client interest in their services dampened sales,” the survey said.
This story is from the July 04, 2026 edition of Business Standard.
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