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Services PMI at 1-yr low

Drop in new orders slow down S&P Global India Services Index to 1-yr low of 56.9 in Nov from 58.4 in Oct

image for illustrative purpose

Services PMI at 1-yr low
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6 Dec 2023 6:00 AM IST

Losing Momentum

  • Services sector down in Q3
  • It curbed recruitment to some extent
  • Fall in new work intakes and output
  • Rates of both input cost and output charge inflation slipped to 8-mth lows

New Delhi: The services sector growth in India fell to a one-year low in November on softer expansions in new work intakes and output, despite receding price pressures, a monthly survey said on Tuesday.

The seasonally adjusted S&P Global India Services Business Activity Index fell from 58.4 in October to a one-year low of 56.9 in November. Despite witnessing a month-on-month decline, the rate of expansion was stronger than its long-run average.

services sector S&P Global India Services Business Activity Index 
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