Services sector growth hits 3-mth high in December

PTI

New Delhi, January 5

The services sector growth in India rose to a three-month high in December supported by favourable economic conditions and positive demand trends, a monthly survey said on Friday.

The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 56.9 in November to 59 in December, highlighting a sharp increase in output that was the most pronounced since September.

In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The survey is compiled from responses to questionnaires sent to a panel of around 400 service sector companies.