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Services PMI slips to 53.2 in December
Why is it in the news?
- According to a private survey, Services sector slowed down a bit in December.
- This follows a report that points to a slowdown in the manufacturing sector in same month.
More in the news
- The result of the Nikkei India Services Purchasing Managers Index (PMI) survey, shows that the services sector dipped to 53.2 in December as against 53.7 in November.
- Since Manufacturing PMI also slowed to 53.2 in December, the Composite PMI was also down, recording 53.6 in December.
- Just like manufacturing, survey for Services PMI is conducted among purchasing managers of over 400 private companies.
- These companies belong to five sectors: consumer services, transport and storage, information and communication, financial and insurance, and real estate and business services.
- An index over 50 shows expansion and if it goes below 50, it indicates contraction.
- The index and subsequent report are prepared by IHS Markit.
Source
The Hindu.