India Services PMI Eases To 6 Month Low

India's services sector continued to expand in January 2022, albeit at a much slower rate than the previous month, as the sector's Purchasing Managers' Index (PMI) fell to a six-month low of 51.5 from 55.5 in December 2021, data released on February 3 showed. A PMI reading above 50 shows expansion in activity, and one below 50 indicates contraction. IHS Markit, the index's compiler, said the fall in the services sector's growth was because of the intensification of the pandemic, reintroduction of restrictions, and inflationary pressures. The IHM composite PMI also eased from 56.4 in December to 53.0 in January.

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