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05
December 2018
 |
PMI
(The Total Investment & Insurance Solutions)
Lifted by a significant rise in domestic
demand, service activity in India expanded in November at the quickest pace in
four months, a private survey showed on Wednesday.
The
Nikkei India Services Business Activity Index rose from 52.2 in October to 53.7
in November, signalling a solid upturn in output that was the strongest since
July. A reading of over 50 on this survey-based index indicates expansion,
below that contraction.
A sister index on Monday had shown
manufacturing activity gain momentum and PMIrising to 54 in November from
October’s 53.1.The Total Investment
& Insurance Solutions
Put together, the seasonally adjusted Nikkei
India Composite PMI Output Index rose from 53.0 in October to 54.5 in November,
pointing to the fastest expansion in private sector activity since October
2016. The Total Investment &
Insurance Solutions
“November saw India’s economy spring back to
life, as manufacturers and service providers registered stronger increases in
business activity amid an upsurge in demand,” the survey report said.The Total Investment & Insurance
Solutions
De Lima added that the twin data sets so far
suggest that the private sector economy will provide impetus to the third
quarter growth. India’s gross domestic product expanded 7.1% in the second
quarter of FY19, down from 8.2% in the April-June period. The Total Investment & Insurance
Solutions
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