India’s Jan Services PMI Hits 6-Month High Amid Strongest Upturn in New Business Since Mid-2023

February 5, 2024 | Author: News Desk

New Delhi, Feb 5: The services sector growth in India rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday.

The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 61.8 in January, up from 59 in December, pointing to the sharpest rate of expansion in six months.

In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.