After manufacturing data has been encouraging with growth clocking at the fastest rate in the December month in five years, services activity PMI reading of India shows expansion after a contracting phase reported for the November month.
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This has come on the back of an increase in order while at the time when increase in price also slowed down. Nonetheless of the overall services sector, expansion is known in primarily few of the sectors including finance and insurance and information and communications.
Other industries continued to suffer from the disruptions caused by nationwide GST implemented in July 2017.
For the December month the Nikkei/IHS Markit Services Purchasing Managers' Index is reported at 50.9 as against 48.5 in November.
Hiring also remained above average and improved at the fastest pace mainly on the expectations of improvement in business conditions in future.