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India s services growth slowed to 3-month low in April, input costs soared

(Reuters) - Growth in India s dominant services sector eased to a three-month low in April but remained unexpectedly resilient even as the COVID-19 crisis intensified and cost pressures rose at the fastest pace in over nine years, a private survey showed. The Nikkei/IHS Markit Services Purchasing Managers Index fell to 54.0 last month from 54.6 in March, its lowest since January but still well above the 50-mark separating growth from contraction and outpacing expectations in a Reuters poll for a fall to 51.1. Firms foresee higher output volumes over the course of the coming year, but business sentiment was dampened by concerns surrounding the pandemic, noted Pollyanna De Lima, economics associate director at IHS Markit.

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