💰 Indias Services Growth Slows to 4½-year Low
Published by OOPSONLINE.IN · Source: The Economic Times · 1 min read · · Updated
What actually happened
India's services sector expanded slowly in July, reaching a 53-month low. New business inflows moderated across domestic and international markets, impacting growth. Manufacturing activity also lost momentum, contributing to a composite PMI decline. Services firms remained optimistic about future business despite current slowdowns. Hiring showed a modest rebound as input cost inflation eased.
Key points
- India's services sector expanded slowly in July, reaching a 53-month low.
- New business inflows moderated across domestic and international markets, impacting growth.
- Manufacturing activity also lost momentum, contributing to a composite PMI decline.
- Services firms remained optimistic about future business despite current slowdowns.
Summary based on data provided by The Economic Times. Full article available at the original publisher.
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