Services activity rises to 4-month high in December

Growth in India's services activity, as measured by the Services Purchasing Manager's Index (PMI), rose to a four-month high of 59.3 in December, up from 58.4 in November, according to a release from S&P Global on Monday.

- Auhona Mukherjee

NEW DELHI:

However, the seasonally adjusted HSBC India Services Business Activity Index reading was lower than the services flash PMI of 60.8, released last month. The reading remained above its long-run average and was also above the 50-mark, which indicates expansion over the previous month. The index has remained above 50 for over three years now.

The index is compiled using responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.