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Buoyant demand pushes Jan services PMI to 6-month high
Financial Express Mumbai
|February 06, 2024
Notable upturn in new export orders
INDIA'S SERVICES EXPANDED sharply in January on account of buoyant domestic and external demand conditions. The HSBC India Services Purchasing Managers' Index (PMI) rose to a six-month high of 61.8 in January from 59.0 in December.
January marked the sixth month of services PMI crossing the 60 mark in the current fiscal.
The services PMI is an indicator, compiled by S&P Global, which measures changes in services activity in the country compared with the previous month. A reading above 50 denotes expansion in services activity, while a reading below points to contraction.
This story is from the February 06, 2024 edition of Financial Express Mumbai.
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