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Nikkei PMI

India services PMI eases in May

TOKYO -- Growth in India's service sector eased in May as disruptions arising from the elections hampered the growth of new work intakes, according to a survey. 

The Nikkei India Services Business Activity Index fell from 51.0 in April to 50.2 in May, nearing the 50-point level separating expansion from contraction. The figure was the slowest growth rate in the current 12-month stretch of expansion. 

New business inflows at service providers increased at the slowest pace in eight months. The rise in total new work across the service sector was supported by solid overseas demand.

"India's dominant service economy again suffered the impacts of election disruptions," said Pollyanna De Lima, Principal Economist at IHS Markit, which compiles the survey. 

"With this now over, upcoming releases of PMI data will be key in showing whether the sector was only hampered by the elections or is actually cooling."

(Nikkei)

For more information, visit IHS Markit website.

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