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India's Services Activity Slows in June, HSBC-S&P Survey Shows

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Services activity in India slowed in June, with the HSBC India Services Purchasing Managers' Index (PMI) falling to 57.4 from 59.8 in the previous month, according to data compiled by S&P Global and released on Friday.

The reading missed the consensus forecast of 58 tracked by Trading Economics. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.

The latest performance showed a loss of momentum as challenging market conditions and reduced client interest for some services reportedly stymied growth of total sales and output, S&P Global said.

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