Ga onbeperkt met Magzter GOLD
Krijg onbeperkte toegang tot meer dan 9000 tijdschriften, kranten en Premium-verhalen voor slechts
Poging GOUD - Vrij
Services sector PMI surges, outpaces manufacturing
Mint Mumbai
|January 06, 2024
India's services sector growth rose to a three-month high in December, riding buoyancy in demand and higher sales, a private survey said on Friday.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P, rose to 59 in December, up from 56.9 in the month prior. The figure had stood at 58.4 in October.
The growth is still slower than in July, when India's PMI was at 62.3.
A reading of 50 separates expansion from contraction.
India's services PMI has expanded for 29 straight months, remaining above the contraction point.
The improvement in service sector growth comes on the heels of slowing manufacturing, which in December grew at the slowest pace in 18 months.
India's services sector, one of the fastest growing in the world, contributes to over 50% of its GDP.
The rise in services in December will help. India meet its targeted economic growth, which the Reserve Bank of India last month raised to 7% for FY24, from its earlier estimate of 6.5%.
Dit verhaal komt uit de January 06, 2024-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
A seven-seater SUV with a touch of style
The Volkswagen Tayron brings refined European flavour to the three-row SUV space, offering premium interiors and features
3 mins
October 03, 2025
Mint Mumbai
Thyssenkrupp-EP Group JV ends, Jindal gains clear run
EP Group agrees to exit the talks, returning its 20% stake in Thyssenkrupp Steel Europe
2 mins
October 03, 2025
Mint Mumbai
India gets $13 billion investment pledges to make electronic parts
India’s scheme offering incentives to create an electronics component supply chain has generated strong interest as the Centre received 249 applications, proposing investments totalling $13 billion (₹1.15 trillion), according to Union information technology (IT) minister Ashwini Vaishnaw.
1 mins
October 03, 2025
Mint Mumbai
Russia looking to 'escalate': Zelensky
Ukraine’s president Volodymyr Zelensky warned Europe on Thursday that recent drone incursions showed Russia was looking to “escalate” its aggression, as he offered his country’s war-honed expertise to help counter the threat.
1 min
October 03, 2025
Mint Mumbai
Auto parts cos grow abroad, following Motherson model
Companies scout for global opportunities in forgings, castings, interiors and electronics
3 mins
October 03, 2025
Mint Mumbai
Hackers extort executives after claiming Oracle apps breach
Executives and technology departments at large organizations are being extorted by a notorious ransomware group that claims to have stolen their data from a suite of popular Oracle Corp. applications.
1 min
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Apple puts Vision Pro revamp on back burner
Apple Inc. has hit pause on a planned overhaul to its Vision Pro headset to redirect resources toward a more urgent effort: developing smart glasses that can rival products from Meta Platforms Inc.
1 min
October 03, 2025
Mint Mumbai
The latest attack on H-IBs has bipartisan support in America
Trump’ anti-immigration agenda could prove to be a vote winner
3 mins
October 03, 2025
Mint Mumbai
India needs its boring machines to be made at home: Here's how
We could get relief from the chokehold of foreign firms through a well-crafted 'Make in India' plan
2 mins
October 03, 2025
Translate
Change font size