India's services sector hits a speed bump in December
India's Services PMI slipped to 58.0 last month, marking its slowest growth in almost a year.
This dip signals that new business and hiring are losing steam, mainly because of tougher competition—even though clients are still interested.
Job growth stalls, confidence cools off
After more than three years of steady hiring, nearly all companies kept workforce levels unchanged, with some marginally reducing staff.
Business confidence also dropped to its lowest point in over three years, showing firms are feeling cautious about what's next.
Exports up, but costs and prices stay chill
While local demand slowed down, export orders actually picked up compared to November.
Input costs rose a bit but stayed manageable; hardly any companies raised their prices for customers.
Why does this matter?
The services sector makes up over half of India's economy—so when the PMI slows down, it's worth paying attention.
These numbers give an early heads-up on where jobs and business growth might be headed next.