Mumbai, March 4 -- India's service sector activity continued to expand strongly in February despite a slower rise in new orders along with a pickup in inflation, final data compiled by S&P Global showed on Tuesday.
The seasonally adjusted HSBC India Services PMI dropped slightly to 58.1 in February from 58.5 in January. Nonetheless, a score above 50.0 indicates expansion. The flash score was 58.4.
The growth in overall business activity was underpinned by efficiency gains, favorable underlying demand, rising sales, and tech projects, the survey said.
New orders logged a further sharp upturn in February, though the pace of growth eased to a 13-month low. Meanwhile, new export orders grew at the quickest pace in seven months amid more dema...