New Delhi, April 6 -- Indias services sector growth slowed to a 14-month low in March, weighed down by softer domestic demand and rising cost pressures, even as export demand remained strong, according to the latest HSBC India Services PMI (purchasing managers' index) data compiled by S&P Global.
Growth Moderates but Remains in Expansion Zone
The Services PMI Business Activity Index declined to 57.5 in March from 58.1 in February, marking the slowest expansion in over a year. However, the index remained above its long-run average of 54.4, indicating continued growth.
A PMI reading above 50 shows expansion in activities while a score below it reflects contraction.
The slowdown was largely attributed to softer growth in new busin...