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India’s services sector activity moderated to a three month low in December with many states imposing night curfews ahead of the Christmas season to curb the spread of Omicron.
Data released by the analytics firm IHS Markit showed that the Purchasing Managers’ Index (PMI) for services fell to 55.5 in December from 58.1 in November. A reading above 50 indicates expansion in economic activity and a number below that signals contraction. Manufacturing PMI for December had also declined to a three month low, data released on Monday showed.
“Underlying data suggested that the latest increase in new orders was centred on the
