April service sector growth at 7-month low, dented by LS elections : PMI

India’s services sector expanded at its slowest pace in seven months in April as some businesses postponed decisions and expansion plans until seeing results of the general election currently under way, a private survey showed on Monday.

The Nikkei/IHS Markit Services Purchasing Managers’ Index slipped to 51.0 in April, the lowest since September, down from 52.0 the previous month.

It remained above the 50 mark, the threshold separating growth from contraction, for an 11th consecutive month.

“Although the Indian private sector economy looks to be settling into a weaker growth phase, much of the slowdown was linked to disruptions arising from