India's services sector growth falls to 17-month low as hiring stalls, demand weakens

India's services sector experienced a significant slowdown in June, reaching a 17-month low due to weakening domestic demand and subdued hiring.

While export orders provided a bright spot, overall business activity moderated.

This trend also impacted the broader private sector, with the composite PMI indicating slower growth.

Despite the cooling, the sector remains in expansionary territory. ...