Archive · 3 Dec 2025
India's Services PMI Rises to 59.8 in November
India's services sector did better in November than in October.
A survey by S&P Global showed that the Services PMI, which measures how well businesses are doing, went up from 58.9 to 59.8.
This means more businesses are growing.
The survey talked to 400 companies.
Even though more jobs were added, the increase was small.
Companies aren't very worried about prices going up, but they are a bit worried about competition and upcoming elections.
They still think things will keep getting better because people want their services and they are doing more marketing.
However, the overall private sector economy, which includes both services and manufacturing, grew a bit slower.
Manufacturing businesses didn't do as well as service businesses, with slower growth in output and sales.
India's Services PMI rose to 59.8 in November from 58.9 in October, driven by robust new business intakes and output growth.
The composite PMI output index fell to 59.7 in November from 60.4 in October, indicating a moderation in overall private sector growth.
Employment in the services sector rose modestly for the third straight month, with many firms keeping payrolls unchanged.
Input cost inflation eased to its lowest in nearly five-and-a-half years, contributing to a broad-based slowdown in cost pressures.
Manufacturing sector growth slowed in November, with a slower rise in output and sales compared to the services sector.
- Who
- S&P Global, HSBC, India's private sector services
- What
- India's Services PMI rose to 59.8 in November
- When
- November 2025, survey released December 3, 2025
- Where
- India
- Why
- Driven by robust new business intakes and output growth
Services Sector
Manufacturing Sector
Growth Trends
Services Sector
The services sector showed accelerated growth in November, driven by increased new business intakes and international sales.
Manufacturing Sector
The manufacturing sector experienced a slower rise in output and sales, with growth moderating in November.
Employment
Services Sector
Employment in the services sector rose modestly for the third straight month, though many firms kept payrolls unchanged.
Manufacturing Sector
No specific mention of employment changes in the manufacturing sector was provided.
Input Cost Inflation
Services Sector
Input cost inflation in the services sector eased, contributing to a broad-based slowdown in cost pressures.
Manufacturing Sector
Similarly, input cost inflation in the manufacturing sector also eased, reflecting a 64-month low in expense increases.
- Services PMI Index
- 59.8
- October Services PMI
- 58.9
- Composite PMI Output Index
- 59.7
- October Composite PMI
- 60.4
- Manufacturing PMI
- 56.6
- October Manufacturing PMI
- 59.2
- Survey Companies
- 400
- Employment Growth
- Modest
- Input Cost Inflation
- Lowest in 5.5 years
