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India's services activity hits seven-year high in January

IHS Markit India services activity index rises to seven-year high of 55.5. 

 

INDIAN ECONOMY

India's services activity hits seven-year high in January.

Scaling New Highs

IHS Markit India Services Business Activity index rose to 55.5 in January, up from from 53.3 in December, and the highest in seven years. The rise was primarily on the grounds of favourable market conditions and better underlying demand. Output expanded faster, while new orders rose the most in seven years due to positive outcome from marketing efforts and employment growth sustained

 

The news comes shortly after Manufacturing Purchasing Managers' Index (PMI) for India hit an eight-year high of 55.3 in January from 52.7 in December on the back of sharp rise in new business orders amid a rebound in demand conditions that led to rise in production and hiring activity. [Livemint]

 

View India's historic services PMI here

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