India's Services PMI Improves To 51.4 In April; Job Creation At Its Fastest Pace Since 2011

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Buoyed by improved business activities, India's services activity continues to improve in the April month and job creation is also happening at its fastest pace in over 7 years time. With the easing of inflationary pressure and growth in new orders, the demand condition has improved resulting in expansion of Nikkei India Services Business Activity Index to 51.4 in April.

    India's Services PMI Improves In April; Job Creation At Its Fastest Pace

    In February, the index recorded a figure of 50.3. As per the survey report, "This signalled a faster expansion in output at Indian service firms than in the prior month".

    "India's overall economy also saw price pressures moderating further, with input and output charge inflation registering at the slowest since September 2017 and June 2017, respectively. The service economy continued to recover further from February's temporary decline," Dodhia, chief economist at IHS Markit said.

    "Reflecting improvements in demand conditions, job-creation accelerated to the sharpest since March 2011", the report added.

    In March, order book volumes increased across services sector in India and the orders placed at manufacturing companies in India also increased for the sixth successive time in April month.

    With PTI Inputs

    Read more about: pmi
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    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