India's Services Sector Activity Slows To 6-Month Low In January
NDTV
India's dominant services sector expanded at its slowest pace in six months in January as restrictions due to a new wave of Covid-19 cases and surging prices weighed on demand, a private survey showed.
India's dominant services sector expanded at its slowest pace in six months in January as restrictions due to a new wave of Covid-19 cases and surging prices weighed on demand, a private survey showed.
The IHS Markit Services Purchasing Managers' Index slumped to 51.5 in January from 55.5 in December, far below the 53.0 expected in a Reuters poll of economists but still above the 50-mark separating growth from contraction.
"The escalation of the pandemic and reintroduction of curfews had a detrimental impact on growth across the service sector," noted Pollyanna De Lima, economics associate director at IHS Markit.
"Both new business and output rose at slight rates that were the weakest in six months."
