Services PMI drops to 57.2 in January
Business Standard|February 04, 2023
Growth in India's services industry eased in January after expanding in December due to a slowdown in exports and new orders, said a private survey on Friday.
SHIVA RAJORA
Services PMI drops to 57.2 in January

The Purchasing Managers' Index (PMI) by credit rating agency S&P Global fell to 57.2 last month from 58.5 in December. A print above 50 in the survey denotes expansion in the sector and below that suggests a contraction in activity. New orders placed with services companies increased in January, marking the eighteenth month of expansion since August 2021.

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