Mar biz growth dips on weaker services demand

Growth in India's overall business activity softened in March as robust manufacturing expansion failed to offset a slowdown in the services sector, a private survey showed on Monday.

- Reuters

BENGALURU:

HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Global, slipped to 58.6 in March from February's final reading of 58.8, lower than a Reuters poll's median prediction of 59.0.

The 50-mark divides growth from contraction.

The manufacturing PMI index increased to 57.6 from 56.3, remaining in the expansion territory for more than three-and-a-half years.

But the dominant-services sector's PMI index fell to 57.7 from 59.0 in February, contributing to the fall in the overall index.