India's Services Activity Slows to 11-Month Low in December, Still Expands

• India's services Purchasing Managers’ Index (PMI) dropped to an 11-month low of 58 in December.
• This marks a decrease from 59.8 in the previous month, indicating a slowdown in momentum.
• Despite the dip, the PMI remains comfortably above the 50-mark, signifying continued expansion in the services sector.
• The sector showed resilience throughout the past year, averaging near 60 and peaking at 62.9 in August.
• Services activity remains stronger compared to manufacturing, which saw its weakest expansion in nearly two years due to tariffs and softer global demand.

Why It Matters: Services growth eased in December but remains robust, outperforming manufacturing amidst global headwinds.