India’s services sector recorded the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday. Yet, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index in October was higher than the 57.7 in September.

Significantly, October was the first full month, after the sweeping Goods and Services Tax (GST) cuts were implemented, and it was also the peak festive period.

As per the comparable index for manufacturing , activity accelerated to 59.2 in October, nearly a 17-year high, driven by strong response of factories to the demand boost from GST reductions. October’s index number was marginally lower than the 59.3 recorded

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