Services activity rises to 4-month high in Dec

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

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.