The Indian service sector remained in expansion mode in January, registering the fastest rise in activity in three months driven by a renewed increase in new business orders, says a monthly survey.Even though growth rates for activity and employment accelerated since December, it remained weaker than their respective long-run survey averages.The seasonally adjusted Nikkei Services Business Activity Index improved to 51.7 in January, up from 50.9 in December, signalling a faster expansion.The index remained above the neutral mark of 50 in January, that separates growth from contraction for the second consecutive month.
In November, the index stood at 48.5.
Indian service providers addressed new business inflows and rising backlogs by expanding workforces for the fifth consecutive month in January. Moreover, the rate of job- creation was the fastest since last September.
Going forward, service sector companies in India remained optimistic regarding expected activity levels in 12 months time.Meanwhile, manufacturing production growth eased from December's 60-month high, and accordingly the Nikkei Composite Output Index fell to 52.5 in January from 53.0 in December.
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The Indian service sector remained in expansion mode in January, registering the fastest rise in activity in three months driven by a renewed increase in new business orders, says a monthly survey.Even though growth rates for activity and employment accelerated since December, it remained weaker than their respective long-run survey averages.The seasonally adjusted Nikkei Services Business Activity Index improved to 51.7 in January, up from 50.9 in December, signalling a faster expansion.The index remained above the neutral mark of 50 in January, that separates growth from contraction for the second consecutive month.
Indian service providers addressed new business inflows and rising backlogs by expanding workforces for the fifth consecutive month in January. Moreover, the rate of job- creation was the fastest since last September.
Going forward, service sector companies in India remained optimistic regarding expected activity levels in 12 months time.Meanwhile, manufacturing production growth eased from December's 60-month high, and accordingly the Nikkei Composite Output Index fell to 52.5 in January from 53.0 in December.
MCX Tips, Intraday Stock Tips , Equity Tips , Free Trading Tips , Sebi Regsitred Advisory Company , Capitalstars Video Gallery
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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