Services sector growth touched the highest level in over
three-and-a-half years, driven by new business orders amid improved
market conditions, but trend in employment remained comparatively
subdued, says a survey.
The Nikkei India Services Purchasing Managers' Index (PMI), which tracks changes in activity at services sector companies on a monthly basis, stood at 54.7 in August 2016, up from 51.9 in July 2016, registering an expansion in each of the past 14 months.
A reading above 50 means the sector is expanding, while a reading below that level means contraction.
With growth of manufacturing production also ticking higher, the Nikkei India Composite PMI Output Index, climbed from 52.4 in July to a 42-month high of 54.6 in August, highlighting a stronger improvement in private sector economic activity.
The Nikkei India Services Purchasing Managers' Index (PMI), which tracks changes in activity at services sector companies on a monthly basis, stood at 54.7 in August 2016, up from 51.9 in July 2016, registering an expansion in each of the past 14 months.
A reading above 50 means the sector is expanding, while a reading below that level means contraction.
With growth of manufacturing production also ticking higher, the Nikkei India Composite PMI Output Index, climbed from 52.4 in July to a 42-month high of 54.6 in August, highlighting a stronger improvement in private sector economic activity.
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