India's service sector sees fastest growth in 4 months: PMI rises to 55.8

India’s HSBC Services PMI rose to 55.8 in October, marking the fastest expansion in four months and signaling continued momentum in the country’s dominant services sector. The reading, up from the prior month, remained well above the 50 threshold separating growth from contraction. Input cost inflation eased to its lowest level in six years, a development that could relieve pressure on service providers’ margins and support pricing stability. The data matters because services account for a large share of India’s GDP and are a key driver of urban employment and consumption. Investors will watch whether the cost relief feeds through to output prices and whether the Reserve Bank of India factors the softer inflation signal into its policy stance.