India's services sector growth drops to 17-month low in June: PMI
In June, the growth of India's services sector cooled down to its lowest level in 17 months, as the HSBC PMI dropped to 57.4 from May's 59.8. This slowdown in activity was driven by subdued local demand and hesitant recruitment, even though the sector continued to expand. On the other hand, international demand remained robust, with export orders growing at their quickest rate in three months, which helped cushion the overall decline.
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