India services growth picks up in April on strong domestic demand, PMI shows
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India's services sector growth improved in April, rising to 58.8 from 57.5 in March, driven by strong domestic demand despite slowing global orders. The growth in new business reached a five-month high, particularly in consumer services. However, international sales growth slowed due to Middle East tensions and reduced tourism. Operating expenses increased but at a slower rate, with moderate selling price rises. Employment expanded significantly, marking the strongest growth in 10 months. The overall composite PMI index also rose to 58.2, indicating robust private sector activity.
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