India services growth picks up in April on strong domestic demand, PMI shows
Yahoo Finance·- India's service sector experienced accelerated growth in April, rebounding from a 14-month low in March, driven by strong domestic demand despite a slowdown in global orders. - The S&P Global/HDFC Bank India Services PMI rose to 58.8 in April from 57.5 in March, indicating ongoing economic expansion. - However, optimism for the coming year declined due to uncertainties related to the Middle East, even as new business growth reached a five-month high.India's March industrial output slows to 5‑month low of 4.1% on manufacturing, power drag
Yahoo Finance·- India's industrial output grew by 4.1% in March, the slowest increase in five months, impacted by weak factory and electricity production amid rising concerns over the Middle East conflict. - Economists had projected a 3.7% increase, following a revised 5.1% growth the previous month, with output slowing to 0.5% in October 2022. - Key sectors showed varied performance, with manufacturing up 4.3% and capital goods rising 14.6%, while electricity production grew just 0.8%.