Services PMI declines to 52.4 in August from July's year-high of 53.8

Rising expectations for further monetary policy easing and recent measures announced by the government boosted business expectations to a 12-month high, the survey showed

The country's services sector activity growth eased in August as new business inflows rose at a slower pace; following which job creation and output expansion moderated, a monthly survey showed on Wednesday.

The IHS Markit India Services Business Activity Index declined from 53.8 in July to 52.4 in August, pointing to a slower rate of increase in output.

In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

"The weaker PMI readings for India's service sector match the trend noted in the manufacturing industry, bringing unwelcome news of a cooling economy halfway through the second quarter of