India Services Growth Above Forecasts

The HSBC India Services PMI rose to 54.5 in August 2026, up from 53.3 in July, marking the weakest growth since early 2022. This figure surpassed market expectations of 53.8, signaling accelerating economic expansion. New orders continued to grow, albeit at a slower pace, while employment levels increased. On costs, input prices surged more rapidly than output inflation, reflecting efforts to pass higher expenses to customers. Business confidence improved, driven by optimism about future market conditions.