India's August services sector activity falls from 21-month peak: PMI
In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. "August data signalled that the pace of growth in India's service economy cooled from July's recent peak. This was matched by the slowest expansions in new business and employment since May and November 2017, respectively," said Aashna Dodhia, Economist at IHS Markit, the author of the report.
The seasonally adjusted Nikkei India Services Business Activity Index, fell from July's peak of 54.2 to 51.5 in August owing to weakest growth in new work in three months. Image source: Pixabay