New Delhi: The services sector growth rate in the country slipped down in last month. The PMI Business Activity Index released by S&P Global India Services fell from 58.5 in December to 57.2 in January. For the 18th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Meanwhile, the S&P Global India Composite PMI Output Index — which measures combined services and manufacturing output — fell from December’s near 11-year high of 59.4 to 57.5 in January, but remained above its long-run average (54.1).
Also Read: Adani Enterprises is down roughly 30%, other group companies’ shares are also falling.
The S&P Global India Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP.
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