India’s services sector expanded in February but at a slightly slower pace, reflecting a cooling in demand momentum and rising cost pressures. The seasonally adjusted HSBC India Services PMI eased to 58.1 from 58.5 in January, indicating continued expansion but at a moderated rate. New business inflows rose at their slowest pace in 13 months, while inflationary pressures ticked higher. Despite the deceleration, the index remained comfortably above the 50 threshold that separates growth from contraction.
