New Orders and Higher Output Drive India's Services PMI to 59.8 in November

New Delhi, Dec 3 (KNN) India's dominant services sector gained momentum in the month of November this year on the back of new orders and rise in output, as per a private survey released on Wednesday.

The HSBC India services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 59.8 in November 2025 from 58.9 in the previous month.

While a PMI reading above 50 shows expansion in services activities, the print below 50 shows contraction.

The HSBC India Services PMI is based on responses to questionnaires sent to a panel of around 400 service sector companies. The key sectors include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.

     Also read: India’s Manufacturing PMI Eases To 56.6 In November, Growth Momentum Softens

Pranjul Bhandari, Chief India Economist at HSBC said that services PMI in November this year was driven by robust new business intakes that fuelled output growth.

"However, international sales expanded at an eight-month low due to fierce overseas services competition," said Bhandari.

As per the survey, input price inflation reached its lowest rate in nearly five-and-a-half years in November, resulting in negligible increases in selling charges. Employment growth remained modest with most companies reporting no change in payroll numbers.

India’s manufacturing PMI released by S&P Global earlier this month had also shown an upward trend in November, though at a slower pace.

Both manufacturing PMI and services PMI are among the closely-watched high frequency indicators.

The services PMI data released today showed demand for Indian services continued to strengthen in November this year as shown by another expansion in new business intakes. The rate of increase was sharp, quicker than in October and above its long-run average.

"On the other hand, there was a softer increase in new export orders midway through the third fiscal quarter. The rate of growth was solid, but eased to an eight-month low," the survey said.

India’s services sector is one of the key pillars of the economy and contributes significantly to outward trade. It contributes over 50% of the country’s gross domestic product (GDP).

(KNN Bureau)