New Delhi, Jan. 6 -- India's services sector continued to expand in December, but the pace of growth eased to its slowest level in nearly a year as softer new business inflows and subdued hiring weighed on overall momentum, according to the latest HSBC India Services PMI survey released on Monday.
The seasonally adjusted HSBC India Services PMI Business Activity Index slipped to 58.0 in December from 59.8 in November, marking the weakest expansion since January, though the reading remained well above the 50 mark that separates growth from contraction.
Survey respondents reported that growth in new business softened to an 11-month low, constrained by increased competition and the availability of cheaper alternatives, even as demand conditi...