HSBC/s&p global jointly announced that, after seasonal adjustment, the final value of the HSBC Services PMI in India in October was revised upwards, rising from the previous ten-month low of 57.7 to 58.5, confirming the initial increase to 57.9 above market expectations. Output and new business expansion accelerated, with healthy domestic and overseas customer demand. Companies increased recruitment by the largest margin in over two years. Input costs inflation accelerated to a three-month high. Companies will pass on the cost increase to customers, raising fees again. Business confidence remains strong, but the monthly growth has slightly slowed down.

The final value of the comprehensive PMI in India in October was revised upwards, rising from the previous ten-month low of 58.3 to 59.1, confirming the initial increase to 58.6 above market expectations.