Pricing edge may cost services firms
SummaryThe services sector output was said to be supported by favourable demand, new client wins and positive market dynamics. A comparison of headline PMI data shows that momentum in economic activity remains higher in services sector than manufacturing.
Business activity in India’s services sector moderated slightly in May. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 61.2 in May from 62 in the previous month. Despite this, the latest reading indicated second strongest growth rate in just under 13 years, said services PMI survey report. A reading above 50 denotes expansion.