SUBSCRIBERS

PMI plunge adds to evidence India cash ban is hurting growth

Published Wed, Jan 4, 2017 · 09:50 PM

Mumbai

INDIA'S dominant services sector is set to contract for a second straight month, adding to evidence that Prime Minister Narendra Modi's surprise ban on cash will trigger a sharp slowdown in Asia's No 3 economy.

The Nikkei India Services Purchasing Managers' Index (PMI) was at 46.8 in December, a report showed on Wednesday, little changed from 46.7 a month earlier. A number below 50 indicates a contraction.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes

International

Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations

International

International

PMI plunge adds to evidence India cash ban is hurting growth

International

Vietnam tycoon appeals against US$27 billion fraud death sentence

US announces new restrictions on firearm exports

Central banks will probably only cut half as much as they hiked

US consumer sentiment falls as inflation expectations climb

HSBC wins £1.3 billion suit over Disney film finance scandal

WTO countries to reboot dispute reform negotiations

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

SECTIONS

LIFESTYLE

Follow BT