winter of discontent

the cycle turns

http://www.livemint.com/Politics/iN0Fj30S0y4yiRLtEwG58O/Indias-services-sector-growth-hits-fivemonth-low-in-Novemb.html

ndia’s services industry barely expanded in November, growing at its weakest pace in five months, as firms grew increasingly gloomy about the coming year, a business survey showed on Thursday.

The Nikkei/Markit Services Purchasing Managers’ Index (PMI) fell sharply to 50.1 in November from October’s eight-month high of 53.2. A reading above 50.0 indicates growth

For the first time in the 10-year history of the survey, the business expectations sub-index tipped below 50, falling to 49.9 from 53.7 and highlighting firms’ pessimism regarding prospects.

“Gloomy PMI data show a broad-based weakness in output, with little prospect of a rebound apparent in the near term,” said Pollyanna De Lima, economist at Markit.