India's services activity cools to 6-month low in Sep; job creation slows

PMI for services sector released by S&P Global dipped to 54.3 in September from 57.2 in August as weak external demand weighed on overall sales, with international order declining during the month

India’s services activity expansion fell to a six-month low in Sept­ember as new business inflows and output increased at the slowest rates since March, amid inflationary pressures and competitive conditions that, in turn, dampened job creation.

The Purchasing Managers’ Index (PMI) for the services sector released by S&P Global dipped to 54.3 in September, from 57.2 in August, as weak external demand weighed on overall sales, with international orders declining further during the month. A print above 50 in the survey denotes expansion. Below that mark, it suggests contraction in services activity.

“Softer increases in output and new business were seen in