05.08.202605:00:00UTC+00India’s Services Growth Cools as HSBC PMI Slips to 53.3 in July

HSBC India’s Services Purchasing Managers’ Index (PMI) eased to 53.3 in July 2026, down from a previous reading of 57.4, signaling a moderation in the pace of expansion in the country’s services sector. While the index remains above the 50-point threshold that separates expansion from contraction, the latest figure points to a slower rate of growth than earlier in the year.

The July 2026 reading suggests that momentum in key services industries—such as finance, information technology, and business services—has softened compared with earlier survey results. The decline from 57.4 to 53.3 indicates that, although activity is still growing, it is doing so at a more subdued pace.

The updated data, released on 5 August 2026, will be closely watched by investors and policymakers as they assess the resilience of India’s services-driven economy and its ability to sustain broader economic growth in the coming months.