Domestic services PMI drops to 60.6 in Feb
February data highlights a notable upturn in demand across the service sector, with inflows of new business expanding for the thirty-first month running.
February data highlights a notable upturn in demand across the service sector, with inflows of new business expanding for the thirty-first month running.
India's service sector lost further growth momentum midway through the third quarter.
The S&P Global India Services PMI Index marginally falls to 60.1 in August from 62.3 in July.
During the month under review, international sales, especially across Bangladesh, Nepal, Sri Lanka and the UAE, picked up pace leading to an upturn in total new orders.
Despite the substantial uptick in new orders, staff levels in the service sector increased only marginally in April.
The S&P Global India Services PMI Index remained in growth territory for the twentieth successive month.
In January, the services PMI stood at 57.2, whereas it was 58.5 in December.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 56.4 in November to 58.5 in December.
The slowdown in major economies may impact services trade activity, as per the latest WTO Services Trade Barometer.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from September's six-month low of 54.3 to 55.1 in October.