Indian Services Sector Falls for Third Straight Month

by Paul Joseph on May 6, 2013 · 0 comments

On Monday, a business survey unveiled that the growth in Indian services sector has been the lowest since the month of October. It has been found that new orders arrived at a very slower pace, which made the sector ease notably during April. Firms were forced to hold back their hiring plans, the report said. Some 400 companies were involved in the survey. It is being said that on the basis of the same, the HSBC Services Purchasing Managers’ Index went down to 50.7 last month. The same was the weakest reading, if the current expansion cycle was taken into consideration. read more

[via Stock Watch - Stock Specific News]

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