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India's service activity accelerates in March

India's service sector continued to improve in March after strong increase in demand, Even though employment growth remained slow

Policy Pulse
Publish Date: Apr 6 2016 12:19PM | Updated Date: Apr 7 2016 11:46AM

India's service activity accelerates in March

India's service sector continued to improve in March after strong increase in demand, Even though employment growth remained slow, a private survey said Wednesday. 

 
According to an ‘The Economic Times’ report, at 54.3 in March, Nikkei India Services Business Activity Index recorded its joint-highest level since June 2014. Index was at 51.4 in February. 
 
A reading above 50 on this survey-based index shows growth, while a figure below that suggests shrinkage. 
 
Nikkei India Composite PMI Output Index jumped from 51.2 in February to a 37-month high of 54.3 in March. 
 
Last Monday, survey results from the same firm had shown an uptick in manufacturing business conditions with manufacturing PMI recording its 8 month high of 52.4. 
 
Wednesday's survey suggested that Indian services firms remained hopeful that activity will increase more over coming 12 months.