India services activity contracts as PMI falls below 50
pre-market1 source ↓written by the desknot a recommendation
- in April
- 51.4
Activity in India's service industry contracted in May, with the PMI dropping to 49.6 from 51.4 in April. This marks the first decline in three months, indicating stagnation in new orders. Despite this, business optimism remains high, with expectations of a demand turnaround. However, inflationary pressures from rising oil prices and a weaker rupee may challenge growth momentum.
Not investment advice. For informational purposes only.