HSBC India Services PMI shows India’s services sector expansion slowed in July, reaching the weakest pace in about four and a half years.
GS3The HinduGS3Services sector growth slowdownHSBC India Services PMIPMI business activity index
What happened: July services growth slowed in HSBC India Services PMI
India’s services sector growth slowed in July, according to a monthly HSBC India Services PMI survey. The survey reported the weakest pace of expansion in roughly four and a half years as growth eased for both domestic and export new business orders.
Background and earlier position
In June, the HSBC India Services PMI Business Activity Index was 57.4. The June reading represented a stronger pace of expansion than July in the same survey series.
What changed now: June to July fall in business activity and order intake
In July, the HSBC India Services PMI Business Activity Index fell to 53.3, marking the slowest rate of expansion in the series within about four and a half years. The July slowdown was linked to easing in both domestic and export new business orders.
