New Delhi, April 6 -- India's services sector grew at its slowest pace in 14 months during March, mirroring the slowdown in the growth of new business intakes, as West Asia conflict hit domestic demand, a private survey showed on Monday.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.5 in March from 58.1 in February, marking the weakest rate of expansion in 14 months but remaining above its long-run average of 54.4.
Despite the slowdown in growth, the sector saw a record increase in international orders, while input cost pressures remained at their most intense since mid-2022. While new business gains continued to underpin growth, according to panellists, output was constrained by the detrim...
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