India’s services sector recorded its slowest growth in five months during October, as competitive pressures and heavy rainfall across parts of the country weighed on business activity, according to the HSBC India Services PMI survey released on Thursday.

The seasonally adjusted Services PMI Business Activity Index dropped to 58.9 in October from 60.9 in September, marking the weakest expansion since May.

Despite the slowdown, the index remains well above the 50-point mark that separates growth from contraction, and also higher than its long-term average of 54.3, indicating continued but moderated expansion in the sector.