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Service activity gains pace in December, PMI at 53.3

Monday, January 6, 2020, 8:44 PM

Buoyed by a sharp rise in new-business-growth, India's service sector activity expanded to a five-month high in December boosting growth of output and employment, and supporting an uptick in business confidence, a-private-survey showed on Monday. The IHS Markit India Services Business Activity Index improved from 52.7 in November to 53.3 in December, highlighting the second-strongest-rate of increase in output in over a year(behind July).
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First advance estimates of GDP to be released tomorrow

Monday, January 6, 2020, 8:41 PM

The government will release the first advance estimates of the GDP for FY20 on Tuesday at 5.30-pm. The estimates will be keenly watched for as the economic turbulence has taken a toll on growth numbers in the first and the second-quarter. The economic growth slowed to 4.5% in the second quarter. The figure stood at 5% for the first-quarter of the current fiscal.
 
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Private sector activity rebounds in November, services output expands after 3 months

Wednesday, December 4, 2019, 8:33 PM

Indian service providers signalled a moderate rebound in business activity during November, with the return to output growth accompanied by a renewed rise in new business intakes, faster job creation and strengthening business confidence, a private survey showed on Wednesday. Posting 52.7 in November from 49.2 in October, the IHS Markit India Services Business Activity Index signalled output-growth for the first-time in three months.