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The Economic Times
The Economic Times

India's July services sector growth slides to over four-year low as demand wilts: PMI

India Inflation

Bengaluru: Growth in India's dominant services sector slumped ​to its weakest ​pace in over four years in July as ​demand was weighed down by fierce competition and fading client appetite, a survey showed.

* HSBC's India Services Purchasing Managers' Index (PMI), compiled by ‌S&P Global, ⁠fell ⁠sharply to 53.3 in July from June's 57.4 but was slightly ​higher than a preliminary estimate of 53.1. PMI readings above 50.0 ​signal expansion in activity.

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