TOKYO -- India's service sector showed continued expansion in December despite moderated activity compared to the high level of November, with sustained rise in new work and strengthened job creation.
The Nikkei India services Purchasing Managers' Index, or PMI, fell from 53.7 in November to 53.2 in December. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"Services companies took a breather from rising expenses as cost inflation eased to a 19-month low," said Pollyanna De Lima, Principal Economist at IHS Markit, which compiles the survey.
"With business sentiment improving for the second successive month, the service sector looks set to sustain growth in 2019 despite predictions of some sluggishness prior to the elections," she added.
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