India’s service sector records PMI of 56.5, lowest since November 2022

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India’s services sector began 2025 with a PMI of 56.5, the lowest since November 2022, according to S&P Global data. Following December’s service PMI of 59.3, growth momentum marked a substantial slowdown. Meanwhile, expansion remained historically strong, and job creation continued, supported by an uptick in manufacturing activity.

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India’s service sector records PMI of 56.5, lowest since November 2022

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