• Friday, August 19, 2022

Business

India’s Service Sector Registers Slower Growth in August

Shopkeepers wait for the customers in the old quarters of New Delhi on December 7, 2011. (Photo Credit: SAJJAD HUSSAIN/AFP/Getty Images).

By: Radhakrishna N S

India recorded a growth at a slower pace across its service sector in August 2018 due to weak demand and rise in input costs which turned into a hurdle for hiring, according to a private research data released on Wednesday (05). The latest data fell from July’s 21-month peak of 54.2 to 51.5 in August, signalling the slowest growth in the current sequence. The firms raised their staffing levels at the slowest pace since last November. On a positive note, business confidence rose to the highest level since May, said the seasonally adjusted Nikkei India Services Purchasing Manager Index (PMI).…

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