For Quick Alerts
For Daily Alerts

India's Services PMI Hits 10-Month High


Rising from November's five-month low of 50.2 to 51.6 in December,the seasonally adjusted

Nikkei India Composite PMI Output Index was indicative of a rebound in growth of private sector activity.

Whereas manufacturing production decreased for the first time since October 2013, services activity increased at an accelerated pace.

India's Services PMI Hits 10-Month High
Climbing to a ten-month high of 53.6 in December (November: 50.1), the seasonally adjusted

Nikkei Services Business Activity Index-which is based on a single question asking respondents to report on the actual change in output at their companies compared with one month ago-was indicative of a solid expansion in output across the sector.

Sub-sector data indicated that output rose in four of the six broad areas of the service economy, the exceptions being Hotels & Restaurants and Transport & Storage. The best performing categories in December were ‘Other Services' and Financial Intermediation.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at Markit, which compiles the survey, said: "The Indian private sector returned to expansion territory at the end of 2015, eking out modest output growth in December. As stronger rise in new business and an improvement in year-ahead expectations at service providers are positive developments, but the overall health of the economy remains fragile amid a weak

manufacturing sector."

Firms' reluctance to hire was evident throughout 2015, with meaningful job creation last recorded in 2013. This suggests that conditions are likely to remain challenging in the near-term," De Lima said.

Read more about: services pmi markit
Story first published: Wednesday, January 6, 2016, 11:21 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more