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India’s services sector activity hits 7-mth low in Oct
The services sector growth in India fell to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures, a monthly survey said on Friday. The seasonally adjusted S and P Global India Services PMI Business Activity Index fell to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.