Services activity grows slowest in over 2 years

NEW DELHI: Activity in the country's service sector rose at its slowest pace in more than two years in Jan but remained robust as new business intakes moderated but jobs were created in the sector, while business optimism fell to a three-month low, a survey showed on Wednesday.

At 56.5 in Jan, the HSBC India Services PMI Business Activity Index indicated a sharp rate of expansion. However, the headline figure was down from 59.3 in Dec to its lowest level since Nov 2022. tnn