India’s services growth loses some steam in March

Growth in India's dominant services industry eased last month from February's 12-year high due to a softer expansion in demand, according to a private survey, which also showed input cost inflation falling to its lowest since September 2020.

The S&P Global India services Purchasing Managers' Index (INPMIS=ECI) fell to 57.8 last month from 59.4 in February, lower than a Reuters poll forecast of 58.3.

But it stayed above the 50-mark separating growth from contraction for a 20th consecutive month.