Services sector growth loses steam in April with slower rise in new orders

Services PMI down to 50.2 from 51.5 in March

The services sector saw its activities increase but at a slower pace in April, owing to a smaller rise in new work, shows the widely tracked Nikkei purchasing managers’ index (PMI) survey.

The predominant sector of the economy expanded for a third consecutive month in April. However, PMI stood at 50.2, lower than 51.5 seen in March. The 50-point mark separates expansion from contraction, indicating the health of the sector continues to be overall positive, the survey said.

Both outputs and new orders saw a softening in trend. “April PMI data for the Indian service sector show how jittery the