Services sector growth cools in June

NEW DELHI: Services sector growth eased for the third consecutive month in June amid softer expansion in new business orders, adding to the clamour for further rate

NEW DELHI: Services sector growth eased for the third consecutive month in June amid softer expansion in new business orders, adding to the clamour for further rate cuts by the Reserve Bank. The Nikkei Services Business Activity index, which maps the service sector activity, fell to 50.3 in June from 51 in May, one of the lowest readings in the current 12-month sequence of above-50 readings. A reading above 50 represents expansion while one below means contraction.

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