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India’s services PMI eases to 54.2 in October but output backlog expands
On 18 November 2025, the latest services Purchasing Managers’ Index (PMI) for India showed a reading of 54.2 in October, down from 55.1 in September, indicating slower yet still‑robust growth in the sector. The backlog of work component rose to 57.3, the highest in six months, due to increased demand pressure and supply‑side constraints. Employment ticked up modestly, while new export orders remained weak.
Economists said the data pointed to uneven demand and that the Reserve Bank of India may hold rates steady given persistent inflation risks and strengthening private investment pipelines.
neutral
India’s services PMI eases to 54.2 in October but output backlog expands
On 18 November 2025, the latest services Purchasing Managers’ Index (PMI) for India showed a reading of 54.2 in October, down from 55.1 in September, indicating slower yet still‑robust growth in the sector. The backlog of work component rose to 57.3, the highest in six months, due to increased demand pressure and supply‑side constraints. Employment ticked up modestly, while new export orders remained weak.
Economists said the data pointed to uneven demand and that the Reserve Bank of India may hold rates steady given persistent inflation risks and strengthening private investment pipelines.
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India’s services PMI slipped to 54.2 in October with backlog of work rising to 57.3, signalling tight capacity and durable demand growth.
On 18 November 2025, the latest services Purchasing Managers’ Index (PMI) for India showed a reading of 54.2 in October, down from 55.1 in September, indicating slower yet still‑robust growth in the sector. The backlog of work component rose to 57.3, the highest in six months, due to increased demand pressure and supply‑side constraints. Employment ticked up modestly, while new export orders remained weak.
Economists said the data pointed to uneven demand and that the Reserve Bank of India may hold rates steady given persistent inflation risks and strengthening private investment pipelines.
On 18 November 2025, the latest services Purchasing Managers’ Index (PMI) for India showed a reading of 54.2 in October, down from 55.1 in September, indicating slower yet still‑robust growth in the sector. The backlog of work component rose to 57.3, the highest in six months, due to increased demand pressure and supply‑side constraints. Employment ticked up modestly, while new export orders remained weak.
Economists said the data pointed to uneven demand and that the Reserve Bank of India may hold rates steady given persistent inflation risks and strengthening private investment pipelines.
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services PMI
economy
services PMI
India
backlog of work
PMI data