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India services activity increases for first time in 4 months

India services activity increases for first time in 4 months

Friday, March 3, 2017, 12:52 PM

A private business survey showed that India's services industry returned to growth in February, for the first time in four months, as demand slowly recovers after the government's demonetization move. The Nikkei/IHS Markit Services Purchasing Managers' Index, increased to 50.3 in February from 48.7 in January. The index fell heavily to a near-three year low in November, after the government scrapped high denomination notes.
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