New Delhi, April 6 -- India's services sector growth slowed to a 14-month low in March even as cost pressures rose sharply, according to HSBC and S&P Global PMI data. Firms have reported the fastest increase in input prices in nearly four years.
The HSBC India Services PMI Business Activity Index fell to 57.5 in March from 58.1 in February, marking the weakest expansion in 14 months, though it remained above the long-run average of 54.4.
The HSBC India Composite PMI Output Index declined to 57.0 in March from 58.9 in February, signalling the slowest expansion in private sector output since November 2022.
The data suggested that the slowdown in overall activity was primarily driven by softer domestic conditions, even as foreign sales cont...