Services PMI Hits a 3-month Low

Services activity slipped sharply in February to a three-month low because of muted demand. The Nikkei Services Purchasing Managers' Index fell to 51.4 in February from 54.3 in January, reports Our Bureau.
The data marked eighth straight month of expansion, but at a slower pace. A reading of above 50 on this survey-based index shows contraction., below that expansion.
“Demand conditions in the country appear to be weak, as indicated by lacklustre increases in new orders,“ said Pollyanna De Lima, economist at Markit., the agency that compiles index.

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