Name: India Services Growth Slows In April, But Remains Strongest In 14 Years
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India Services Growth Slows In April, But Remains Strongest In 14 Years

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The activity in India's service sector eased from a month ago, but continued to show expansion in April, a private survey showed.&nbsp;Despite falling to 60.8 in April from 61.2 at the end of the previous fiscal quarter, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years, according to a press release.
Composite PMI fell slightly to 61.5 in April from 61.8 in March, but it remained one of the highest prints seen in close to 14 years.
A figure above 50 indicates expansion.
The latest upturn in output was attributed to favorable economic conditions, strong demand, and rising new work intakes, according to survey members. Business activity increased across the four sub-categories monitored by the survey, led by steep growth in finance and insurance.
Notably, service companies saw the second-fastest increase in new export business in the nearly 10-year series history, second only to March. Still, total new orders continued to rise at a stronger rate than exports.

The activity in India's service sector eased from a month ago, but continued to show expansion in April, a private survey showed.&nbsp;Despite falling to 60.8 in April from 61.2 at the end of the previous fiscal quarter, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years, according to a press release.
Composite PMI fell slightly to 61.5 in April from 61.8 in March, but it remained one of the highest prints seen in close to 14 years.
A figure above 50 indicates expansion.
The latest upturn in output...

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India Services Growth Slows In April, But Remains Strongest In 14 Years

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