India's service sector growth falls to 5-month low in Oct on competitive pressures, heavy rains: PMI
GST
Dated:- 6-11-2025
PTI
New Delhi, Nov 6 (PTI) India's services sector growth witnessed the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday.
The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 60.9 in September to 58.9 in October, indicating the slowest pace of expansion since May.
Notwithstanding the moderation, the October Services PMI index was comfortably above both the neutral mark of 50 and its long-run average of 54.3.
In the Purch
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n services improved further, as signalled by another increase in external sales. The rate of expansion was solid, though the weakest since March, as per the survey.
Meanwhile, monitored firms suggested that the GST reform curbed price pressures. Input costs and output charges rose at the slowest rates in 14 and seven months, respectively.
Going forward, companies were strongly confident of a rise in business activity over the next 12 months.
Amid reports of efforts to support rising new-business intake, meet delivery deadlines, and maintain reliable services, companies recruited additional staff in October.
Meanwhile, the combined output of India's manufacturing and service sectors continued to expand sharply in October, but growth
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