PMI plunge adds to evidence India cash ban is hurting growth
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
