India services PMI down to 50.2 in April
TOKYO -- The Nikkei India Services Purchasing Managers' Index, or PMI, fell to 50.2 in April from March's 51.5.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
The latest index shows business conditions for India's service sectors remained in the expansion territory for the third straight month.
However, Pollyanna De Lima, an economist at IHS Markit, pointed that "Firms were cautiously optimistic towards future performance, and have been so for a while. The latest results indicate that the road to recovery from the notes ban is still bumpy and is a reminder that the sector is not out of the woods yet."
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