India's services sector experienced a slight slowdown in growth during March, impacted by a marginal dip in sales due to softer demand conditions and easing inflationary pressures, according to a monthly survey released on Friday.
The seasonally adjusted HSBC India Services PMI Business Activity Index dropped from 59.0 in February to 58.5 in March, though it remained well above its long-term average of 54.2.
In PMI terms, a reading above 50 indicates expansion, while a score below 50 signals contraction.