By Anant Chandak BENGALURU (Reuters) - Growth in India's dominant services industry lost some steam in August but overall conditions remained strong ...
Update on Halifax Serval Cat | SaltWireBENGALURU - Growth in India's dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand.
Still, the reading was above the 50-mark separating growth from contraction for a 25th consecutive month - the longest stretch since August 2011. A sub-index monitoring overall demand slowed slightly in August compared to the previous month. Although it remained strong at 60.0 it was below July's 13-year peak of 62.2.The business outlook for the next 12 months was the most robust since December, encouraging firms to hire at the fastest pace in nine months.
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