Services sectors activity in India, declines first time in a year: HSBC reports
The Dollar Business Bureau The service sector activity of India experienced a plunge for the first times in the last 13 months, as per the HSBC survey report. The reason being the decline of new order flows amid competitive pressure and natural disasters. The HSBC India service activity index, which tracks the changes in the activity of the service companies, fell to 49.6 in May from 52.4 in April since the output prices in the private sector rose further, with the rate of inflation being the strongest in the last 13 months. The reports also stated that competitive outflows and the natural disaster, resulting in decline of the new business inflows, which surged for the first time since April. The index hit ...
