PMI for April Shows Continued Contraction in Services

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The HSBC Markit Purchasing Manager’s Index (PMI) for India for April 2014 is a little unimpressive, with the composite number at 49.5. (Anything below 50 is contraction, anything above is expansion)

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This is on the back of slowing service growth – in this case, a contraction of the service index.

The Manufacturing Index though expanded, at 51.3.

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