Service activity hits 3-month low in November due to GST
The services sector in India slipped into the contraction mode in November, its lowest in 3 months, mainly due to low demand and lower customer turnout due to the GST rollout. The Nikkei India Services Purchasing Managers' Index (PMI) fell to 48.5 from 51.7 in October. A reading above 50 indicates expansion, while a score below this mark means contraction.