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.