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June saw slowest activity in service sector

The survey focused on four months out of which June was the weakest

Policy Pulse
Publish Date: Jul 5 2016 3:06PM | Updated Date: Jul 5 2016 3:06PM

June saw slowest activity in service sector
A private survey has showed that the pace of activity in service sector slowed down in June. 
 
 
The survey was undertaken by Nikkei India Services.
 
 
The Nikkei India Services Business Activity Index was 50.3 in June whereas the headline index was down from 51 in May. 
 
 
The survey focused on four months out of which June was the weakest. 
 
 
According to the survey, there was weaker rise in new business leading to a softer expansion in activity.
 
 
Pollyanna De Lima, economist at market said that the future expectations dipped to the lowest since February, highlighting concerns regarding the sustainability of the economic upturn.
 
 
According to the data released by the company, India's manufacturing activity was at a three month high with manufacturing PMI (Purchasing Managers’ Index) edging up to 51.7 in June from 50.7 in May.
 
 
Conclusively, the index rose from 50.9 in May to 51.1 in June however it is considered to be below its long- run average and pointed to a slight pace of expansion.