Mumbai: Purchasing Manager Index (PMI) of the country’s service sector closed at 58.70 in April, which is slightly above March. The PMI of the month of March was 58.50. The Joint PMI for service and manufacturing, which was 59.50 in March, increased to 59.70 in April.
The PMI above 50 is considered to be an extension in that area.
The PMI survey report said that the increase in new commercial orders has reached an eight -month high and a large number of companies have expressed the idea that market conditions are favorable.
There has been an increase in export orders in April after the slowdown in March. Since July 2024, export orders have seen the highest growth.
The report also said that the margin of service providers has increased due to reduced cost pressure and increase in service fee. Companies are optimistic about future growth, but their confidence has weakened to some extent.
