HSBC Services Purchasing Managers Index (PMI) was released on 6 December 2014. The Index showed that Indian services sector shrank at a faster pace in December 2013 than in November 2013.
HSBC in collaboration with Markit Economic Limited provides emerging market data through Purchasing Managers Index (PMI).
HSBC Services Purchasing Managers Index (PMI) fell to 46.7 in December 2013 from 47.2 in November 2013. The Services PMI in December 2013 has been the lowest in the Quarter 3 of 2013 and also it stayed below the 50 mark ¬– dividing the line between growth and contraction – for the past six consecutive months.
The Employment sub-index rose in December 2013 to its highest since July 2013 indicating pickup in the labour market.
Inflation with high interest rates, government policy paralysis and fragile global demand slowed the economic growth in India.
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