Nikkei India PMI says services sector grew fastest in May
The Dollar Business Bureau The Nikkei India Services Purchasing Managers’ Index (PMI) which tracks the services sector output monthly, said that India’s services sector activity increased at the fastest pace in May 2017. This is because of the increased work orders that prompted companies to employ more workforce to handle the workloads. PMI said the Index rose to 52.2 in May compared to 50.2 in April. Although the job growth rate was moderate, it was fastest in almost 4 years. The author of the report, Pollyana De Lima commenting on it said, “The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though ...
India's services sector affected due to demonetisation
The Dollar Business Bureau Demonetisation has put an end to the 16-month expansion of India's services activity with the sector witnessing a decline in the month of November. In totality, the seasonally adjusted Nikkei India Composite PMI Output Index has decreased from October’s 45-month high of 55.4 to 49.1 in November, reflecting a slight contraction in private sector activity. A reading above 50 on the index reflects economic expansion whereas a figure below that indicates contraction. According to Pollyanna De Lima, an Economist at Markit and author of the report, the ban of Rs. 500 and Rs. 1000 notes have heavily impacted the services sector with cash shortages leading to lesser new business intakes. This has ultimately led to a fall in activity and ended a ...
Indias pvt sector activity growth eases in April
The Dollar Business Bureau India’s private sector activity eased slightly in the month of April, in the wake of slower growth in inflows of new businesses in the services sector, while the manufacturing sector is still struggling to get into the motion, revealed a survey on Wednesday. The Composite Manufacturing Purchasing Managers' Index (PMI) of Nikkei India, which records manufacturing as well as services sector, declined from the 37-month high of 54.3 in March 2016 to 52.8 last month, indicating a slower expansion in the activity of private sector across India. An economist at Markit, Pollyanna De Lima said that having grown to the 37-month high during March, India’s private sector activity growth eased a little in April. She further said that manufacturers in India ...
Services sector contracts for 2nd straight month in June: HSBC
Source: PTI Raising concerns about India's economic growth momentum, a survey today showed that the services sector contracted for the second consecutive month in June as new orders declined for the first time in 14 months. The deterioration in the key services sector, coupled with weakening manufacturing output, may add to the clamour for further rate cuts by RBI but comes at a time when rating agencies like Fitch and Moody's have flagged a weak business environment and an urgent need to speed up the reforms. The Nikkei India Services Business Activity Index, which tracks changes in activity at service companies on a monthly basis, fell to 47.7 in June, down from 49.6 in May -- its lowest level since March ...
