Service sector growth contracts for first time in a year in June, PMI at 49.6

July 04, 2019 |
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Service sector growth contracts for first time in a year in June, PMI at 49.6

Business activity growth in India’s service sector gathered contracted in June as broadly stagnant sales caused the first drop in business activity in over a year and led to job creation at a 22-month low, a private survey showed on Wednesday. 

The Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 49.6 last month from 50.2 in May, going below the 50-mark reading that separates contraction from growth. 

 

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