India Services PMI Hits 11-Month Low in December Amid Weakening Demand, Hiring

• India's services sector growth slowed to an 11-month low in December, with the PMI dropping to 58.0 from 59.8 in November.
• The slowdown was primarily driven by softened fresh demand and a halt in hiring activity.
• New business momentum was weakest since January 2025, and employment conditions deteriorated, ending a 42-month job creation streak.
• Business confidence fell for the third consecutive month to a three-year low, despite an improvement in new export orders.
• Input price inflation edged up but output price pressures remained subdued; the Composite PMI also hit an 11-month low.

Why It Matters: India's services sector faces a growth slowdown as demand and hiring weaken, impacting overall economic momentum.