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Service activity gains pace in December, PMI at 53.3

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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