NEW DELHI:
However, the seasonally adjusted HSBC India Services Business Activity Index reading was lower than the services flash PMI of 60.8, released last month. The reading remained above its long-run average and was also above the 50-mark, which indicates expansion over the previous month. The index has remained above 50 for over three years now.
The index is compiled using responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.
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