India Services Expansion Slowed to Three-Month Low in April

By Anant Vijay KalaFeaturesDow Jones Newswires

The expansion in services activity in India slowed to a three-month low in April as order growth weakened, underscoring concerns about a still-shaky economic recovery.

The seasonally adjusted India Service Sector Business Activity Index fell to 50.2 from 51.5 in March, according to survey results released Thursday by IHS Markit and Nikkei.

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A figure above 50 indicates expansion, while a reading below that level signals a contraction.

"The latest results indicate that the road to recovery from the notes ban is still bumpy and is a reminder that the sector is not out of the woods yet," said Pollyanna De Lima, an economist at IHS Markit.

This contrasts with the seasonally adjusted manufacturing purchasing managers' index, released Tuesday, which held steady at 52.5 in April.

Write to Anant Vijay Kala at

(END) Dow Jones Newswires

May 04, 2017 01:46 ET (05:46 GMT)