The Economic Times

India services activity expands in August, but growth remains near four-year low

The services sector in India showed an uptick in August, spurred by increased business and consumer demand. However, this expansion was only the second-slowest since March 2022. Meanwhile, manufacturing faced challenges, hitting a five-year low. Composite growth remained steady, as services balanced out manufacturing's dip. Nevertheless, confidence among businesses for the upcoming year remained below typical levels.