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Thursday, November 3, 2016

Indian services activity accelerates in Oct as demand surges



The Nikkei/Markit Services Purchasing Managers' Index jumped to 54.5 in October from 52.0 in September. It has only been higher once - in August - since January 2013 and marked its 16th month above the 50 level that separates growth from contraction.


Indian services activity accelerated rapidly in October as broadly steady prices helped drive a surge in domestic and foreign demand, a survey showed on Thursday.


A sub index measuring new business climbed to 54.3 in October from 52.1, its second highest in over two years, although optimism cooled to a four-month low, suggesting a slowdown is possible after the annual festive season between October-December.




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