Mumbai, Jan 4 : Moderation in new work order generation slowed the growth of India’s services activity in December, an economic data point showed on Friday.
Accordingly, the seasonally adjusted Nikkei India Services Business Activity Index inched lower to 53.2 in December from 53.7 in November.
An index reading of above 50 indicates an overall increase in economic activity and below 50, an overall decrease.
Despite the fall, the seasonally adjusted Nikkei India Services Business Activity Index pointed to an expansion in sector output that was among the strongest recorded in the past two years.
In addition, the headline seasonally adjusted Nikkei India Composite PMI Output Index came down from a 25-month high of 54.5 in November to 53.6 at the end of the year.