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The HSBC India Services PMI was revised to a five-month high of 60.9 in August 2024 from 60.4 in the preliminary estimates, as the growth of incoming new business ticked higher. The latest result rose from 60.3 in July, marking the 38th consecutive month of growth in services activity, boosted by productivity gains and positive demand trends. New orders grew the most since April, with finance and insurance posting the best-performing, mainly boosted by domestic demand. Outstanding business rose for the thirty-second consecutive month, with the pace of accumulation being mild among the latter and the weakest since February. Employment increased solidly, despite slowing to a four-month low. On the price front, input prices rose due to higher food, labor, and transportation costs, but the inflation eased to the weakest since August 2020. As a result, output cost inflation slowed. Finally, business sentiment weakened to a 13-month low amid concerns about competitive pressures.