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Services growth falls in July as inflation and weather bite

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The fall in the services PMI comes after data released on August 1 showed the manufacturing index rose to an eight-month high of 56.4 in JulyServices growth falls in July as inflation and weather bite

India's services activity expanded again in July, although the S&P Global India Services Purchasing Managers' Index (PMI) slumped to 55.5 from an over 12 year high of 59.2 in June, data released on August 3 showed.

A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.

"There was...a noticeable loss of momentum for the Indian service economy as demand was somewhat curtailed by competitive pressures, elevated inflation and unfavourable weather," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.
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