Services sector loses steam, December PMI falls to 52.3 from 53.7 in Nov

Growth in India's dominant services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, a private survey showed on Wednesday. Asia's third-largest economy has been gradually recovering from a coronavirus-induced recession but is not expected to return to pre-pandemic levels soon, especially within the service industry - the engine of economic growth and jobs in the country.

The Nikkei/IHS Markit Services Purchasing Managers' Index fell to 52.3.

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