Services Sector Rising www.purnartha.com

Services Sector Rising

India News

Services Sector Rising www.purnartha.comA Growth in India’s services firms rose at its fastest pace in 10 months in December as demand picked up, a business survey showed on Wednesday. The Nikkei/Markit Services Purchasing Managers’ Index surged to 53.6 in December from November’s 50.1, marking a sixth month above the 50-level that separates growth from contraction. That should provide some comfort to policy makers after a related survey showed India’s factory activity contracted for the first time in more than two years on dwindling demand.
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,” said Pollyanna De Lima, economist at Markit.
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