Diabytes
Services sector growth News
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The seasonally adjusted HSBC India Services Business Activity Index fell from 61.2 in March to 60.8 in April, highlighting one of the strongest growth rates seen in just under 14 years.
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The seasonally adjusted Nikkei India Services Business Activity Index fell to 50.2 in May, from 51.0 in April, pointing to the slowest growth rate in the current 12-month stretch of expansion.
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The seasonally adjusted Nikkei India Services Business Activity Index, fell from 52 in March to 51 at the start of the 2019 financial year, pointing to the weakest upturn in output since last September.
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The seasonally adjusted Nikkei India Services Business Activity Index fell to 52 in March from 52.5 in February, indicating the slowest expansion since last September.
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A composite index, taking into account both manufacturing and services activity, remained unchanged at December`s 53.6, helped by an unexpected acceleration in factory activity.
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With companies still grappling with new tax rules, business surveys are pointing to more pain ahead. Services and manufacturing activity contracted at their fastest rate in years in July, the month that the GST was launched.
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Services sector grew for the third straight month in April but the pace of growth moderated amid slower rise in new business and employment, a monthly survey said on Thursday.
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Private sector activity in the country eased in April amid slower expansion in new business inflows in services sector while order books at manufacturers also broadly stagnated, adding to the clamour for further interest rate cuts by Reserve Bank.
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India's services sector activity touched a 19-month high in January driven by strengthening underlying demand and improved weather conditions, a monthly survey showed Wednesday.
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Growth fell from October's eight-month high of 53.2 to 50.1 in November.
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India's services sector activity touched an eight-month high in October driven by a significant rise in new business orders even as growth in manufacturing output eased, a Nikkei survey said.
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India's services sector registered the third consecutive month of expansion in July, but the pace of growth was significantly down from the previous month due to moderation in order flows, an HSBC survey said.
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