India service sector growth hit 15-year high in August but inflation intensifies, PMI shows
- India's services sector experienced its strongest growth in 15 years in August, driven by demand and new orders, according to a business survey reported by Reuters.
- The HSBC India Services Purchasing Managers' Index increased to 62.9 in August, indicating strong expansion.
- Business confidence rose to a three-month high, supported by expectations of strong demand, although employment growth remained modest, indicating cautious hiring.
- The Composite PMI, which includes services and manufacturing, reached 63.2 in August, the highest in 17 years, despite challenges like rising inflation risks.
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India service sector growth hit 15-year high in August but inflation intensifies, PMI shows
India's services sector growth accelerated to a 15-year high in August on robust demand, which also pushed prices higher at the fastest rate in over a decade, a business survey showed on Wednesday.
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Total News Sources12
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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