Services PMI
Latest reading: 54.1 index for August 2026 (+0.8 index pts MoM).
Services PMI
Survey-based index of services-sector activity, India's largest output segment. Above 50 signals month-on-month expansion.
What it means
Survey-based index of services-sector activity, India's largest output segment. Above 50 signals month-on-month expansion.
Privately compiled. Final 54.1, revised down from 54.5 flash. Could not open the S&P Global press release directly; value cross-checked across multiple reports. HSBC flash Services PMI for September (released 23 Sep) rose to 55.8 from 54.1; flash composite 56.5 (three-month high). Final due 5 Oct.
Release details
- Category
- REAL ECONOMY
- Frequency
- MONTHLY
- Previous
- 53.3
- Benchmark
- 50 = no change threshold
- Released
- 2026-09-03
- Next release
- Expected: 2026-10-05
- Source
- S&P Global — HSBC India Services PMI
Key questions about Services PMI
What is the current Services PMI?
Services PMI stands at 54.1 index for August 2026, against 53.3 index previously (+0.8 index pts MoM). Survey-based index of services-sector activity, India's largest output segment. Above 50 signals month-on-month expansion.
Who publishes the Services PMI data?
Services PMI is published by S&P Global — HSBC India Services PMI on a monthly basis. Release window: 3rd-5th of following month. The next update is expected on Expected: 2026-10-05.
What is a healthy level for Services PMI?
The reference benchmark used on MacroNest is: 50 = no change threshold. The latest reading of 54.1 index is currently assessed as "Expansion, modest rebound".
Why does Services PMI matter?
Real economy indicators measure actual output and activity, giving the clearest read on whether growth momentum is building or fading. Survey-based index of services-sector activity, India's largest output segment. Above 50 signals month-on-month expansion.