 "Services PMI")
India’s services sector activity moderated to a three-month low in December as many states imposed night curfews ahead of the Christmas season to curb the spread of the Omicron variant of Covid-19.
Data released by analytics firm IHS Markit showed that the purchasing managers’ index (PMI) for services fell to 55.5 in December from 58.1 in November. A reading above 50 indicates expansion in economic activity and a number below that signals contraction. Manufacturing PMI for December had also declined to a three-month low, data released on Monday showed.
“Underlying data suggested that the latest increase in new orders was centred on
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