India s services sector loses momentum; PMI falls to 52.3 in Dec vs 53.7 in Nov
The Nikkei/IHS Markit Services Purchasing Managers Index fell to 52.3 in December from November s 53.7 but held above the 50-mark separating growth from contraction for a third straight month
Reuters | January 6, 2021 | Updated 11:24 IST
Growth in India s dominant services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, a private survey showed on Wednesday. Asia s third-largest economy has been gradually recovering from a coronavirus-induced recession but is not expected to return to pre-pandemic levels soon, especially within the service industry - the engine of economic growth and jobs in the country.