Services PMI slows to 51.3 in September

06 Oct 2015 Evaluate

Mirroring softer demand conditions across the country, the seasonally adjusted Nikkei Business Activity Index slowed to 51.3 in September from 51.8 in August, but remained above the 50-mark for the third straight month which separates contraction from expansion. Though, incoming new work at service providers rose for the third month in succession during September, but the rate of expansion eased since August. New order growth in the goods producing sector also softened and was the weakest since June.

As per the survey, economy lost steam in September with both services output and manufacturing production rising at slight and slower rates, the seasonally adjusted Nikkei India Composite PMI Output Index fell to 51.5 in September from 52.6 in August, highlighting the weakest rate of expansion in the current period of growth and reflecting weaker increases in both manufacturing and services output.

The level of outstanding business held by Indian service providers fell again in September. This was the third consecutive monthly drop in backlogs, although the rate of depletion was marginal overall. As a consequence of the slowdown, Indian service providers maintained employment levels broadly unchanged in September.

Though, the survey highlighted that input costs faced by services firms decreased in September for the first time in ten months, with survey participants reporting lower petrol prices. The decline in cost burdens was, however, only marginal. With purchase prices also falling at manufacturers, overall input costs across the private sector as a whole declined for the first time in six-and-a-half years. The prices charged sub-index slumped to a near 5-year low of 49.5 from 51.0 in August as falling commodity prices helped weaken input cost pressures.

Private sector businesses passed falling input prices on to clients as tariffs were lowered on average, although only marginal. The decline in charges was broad-based by sub-sector, with reductions seen in both manufacturing and services. Going forward, services activity is expected to rise over the coming 12 months, with firms linking optimism to favourable government policies, planned increases in marketing budgets and hopes of better economic conditions. Though, service providers expect further setbacks, as highlighted by the Future Output Index sliding to its lowest mark in the history of the series.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.