India's services growth slows in December as inflation pressures persist

Business confidence was at a four-month high in December on robust demand, yet rising coronavirus infections kept it in check

India's services sector expanded for a fifth straight month in December, albeit at a slower pace than in the previous month, as demand rose but concerns over another wave of Covid-19 and inflationary pressures cast a shadow over the outlook, a survey showed.

Wednesday's Services Purchasing Managers' Index , compiled by IHS Markit, eased to 55.5 in December from 58.1 in November, the lowest since September but still well above the 50-mark that separates growth from contraction. "2021 was another bumpy year for service providers and growth took a modest step back in December. Still, the latest readings pointed to robust