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.
Bu hikaye The Free Press Journal dergisinin October 05, 2024 sayısından alınmıştır.
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Bu hikaye The Free Press Journal dergisinin October 05, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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