Down to a three-month low of 52.4 in April (March: 53.0), the seasonally adjusted HSBC India Services Business Activity Index pointed to a modest and softer rise in output across the sector. By category, the quickest increase was seen in Post & Telecommunication, while Hotels & Restaurants was the only sub-sector to see a contraction.
The slower rise in service sector activity was matched by a softer increase in manufacturing production. As a result, the headline HSBC India Composite PMI Output Index fell from 53.2 in March to a six-month low of 52.5in April. Nonetheless, the latest reading still indicated that the private sector remained in expansion territory.
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