Mumbai, July 3 -- India's services sector continued to expand strongly in June, although growth slowed as softer demand and challenging market conditions weighed on business activity, according to the latest HSBC India PMI survey.
The HSBC India Services PMI Business Activity Index fell to 57.4 in June from 59.8 in May but remained well above the 50.0 no-change mark, signalling a historically strong expansion despite the weakest pace of growth in 17 months.
Growth in new business slowed to its weakest level in more than two-and-a-half years, with firms citing reduced client interest and difficult market conditions. However, demand from e-commerce, tourism and competitive pricing continued to support activity. Export orders rose at the fas...