Services activity in the country last month grew at its fastest rate in a year as there was seen robust recovery in demand though input cost increased at the fastest rate in eight years time, the survey showed.
February Services PMI Rise At Its Fastest Rate In A Year
In the last quarter ended December, India came out of technical recession and GDP grew at the rate of 0.4 percent. And now as the business activity picks up pace, economic recovery shall further gain pace.
The Nikkei or HIS Markit Services PMI surged to 55.3 in February as against 52.8 in January. The barometer has remained above 50 levels for five straight months. This is even as the pace of foreign orders has seen a persistent decline.
And now the composite PMI has hit a four month high of 57.3 in February.
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