India Services Growth Rises in August
India's services sector accelerated slightly in August with the PMI rising to 54.1. However subdued new business kept overall activity near a four-year low while firms ramped up hiring at the fastest pace in over a year.
Insights:
India's services sector expanded in late summer, with activity picking up to 54.1 in August from 53.3 in July. The reading remains near a four-year low despite faster hiring by firms. S&P Global compiled the PMI survey, which indicates lingering softness in new business orders across the region.
