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Economy

Indian services growth slows in January as new business slips to four-month low

Updated : February 05, 2019 10:56 AM IST

The Nikkei/IHS Markit Services Purchasing Managers' Index declined to a three-month low of 52.2 in January from 53.2 in December, but remained above the 50 mark separating growth from contraction for an eighth month.
Weaker growth in domestic demand, dampened by sharper price rises, offset a rebound in foreign sales and dragged a sub-index tracking new business orders to its lowest since September.
A composite index, taking into account both manufacturing and services activity, remained unchanged at December's 53.6, helped by an unexpected acceleration in factory activity.
Indian services growth slows in January as new business slips to four-month low

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