India’s services industry witnessed a slight softening in growth in April, yet remained robust due to strong domestic and foreign demand, boosting business confidence to a three-month high. The HSBC final India Services Purchasing Managers’ Index fell marginally to 60.8, still reflecting one of the fastest growth rates in nearly 14 years. Despite muted job creation, favourable market conditions and buoyant demand drove new business orders to a three-month high. Although operating costs rose, firms managed to soften the burden passed on to clients.
India’s Services Sector Shows Resilience Amidst Softened Growth
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