India's Services Activity Slows in June, HSBC-S&P Survey Shows
Services activity in India slowed in June, with the HSBC India Services Purchasing Managers' Index (PMI) falling to 57.4 from 59.8 in the previous month, according to data compiled by S&P Global and released on Friday. The reading missed the consensus forecast of 58 tracked by Trading Economics. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction. The latest performance showed a loss of momentum as challenging market conditions and reduced client interest for some services reportedly stymied growth of total sales and output, S&P Global said.
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Business activity across India's private sector slowed in June, with the HSBC India Composite Purchasing Managers' Index (PMI) falling to 57.1 from 59.3 in the previous month, according to final data compiled by S&P Global and released Friday.
The reading remained well above the 50.0 mark that separates expansion from contraction.
The growth was the slowest since March as the increase in sales was the slowest in three months, while job creation was the softest so far in 2026.
The manufacturing PMI fell to 54.2 from 55 the previous month, while the services PMI, released the same day, declined to 57.4 from 59.8 in May.