India's dominant service industry began 2020 in a buoyant mood as activity ...
BENGALURU - India’s dominant service industry began 2020 in a buoyant mood as activity accelerated in January at the fastest pace in seven years on strong domestic demand, a private survey showed on Wednesday.
The Nikkei/IHS Markit Services Purchasing Managers’ Index INPMIS=ECI rose to 55.5 in January from December’s 53.3. It was the highest reading since January 2013 and above the 50-mark separating growth from contraction for a third straight month. A sub-index tracking new business also climbed to its highest since January 2013, encouraging firms to maintain a strong hiring rate.
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