This is the first time in 2024 that the services PMI has come in below 60. A PMI reading of more than 50 denotes expansion in activity, while a sub-50 print is indicative of contraction.
According to Pranjul Bhandari, HSBC's chief India economist, a services PMI of 57.7 is "still much above the long-term average".
The September services PMI is not just well below the August figure, but also lower than the flash estimate of 58.9, released on Sept. 23.
Esta historia es de la edición October 05, 2024 de The Free Press Journal.
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