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June services PMI hits 3-mth low, still in expansion zone
Mint Mumbai
|July 06, 2023
India's services sector contracted to a three-month low in June but remained buoyant amid strong demand, a private survey said on Wednesday.
S&P Global said India's services Purchasing Managers' Index (PMI) fell to 58.5 in June from 61.2 in May, and 62 in April. It was lower than a Reuters poll prediction of 60.2 for June. A figure of 50 separates expansion from contraction.
To be sure, services PMI-an indicator of new projects and orders-has held firm in the expansion zone since August 2021, its longest such stretch since August 2011.
Dit verhaal komt uit de July 06, 2023-editie van Mint Mumbai.
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