India’s services sector activity hits 3-month low in December: survey
The Hindu
For the fifth straight month, the services sector witnessed an expansion in output. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction
India’s services sector activity moderated in December as business activity and sales rose at a softer pace, while price pressures and the possibility of new waves of COVID-19 affected business sentiment, a monthly survey said on January 5.
The seasonally adjusted India Services Business Activity Index fell from 58.1 in November to a three-month low of 55.5 in December. The rates of expansion moderated but were nevertheless “marked” by historical standards, the survey said.
For the fifth straight month, the services sector witnessed an expansion in output. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
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