Economic Buzz: India Services PMI Improves In April

6 May 2022 , 10:34 AM

India Services PMI Improves In April Indias service Purchasing Managers Index rose to 57.9 in April from 53.6 in March, survey results from S&P Global showed on Wednesday. Any score above 50.0 indicates expansion in the sector. New business inflows and output increased at the strongest pace since November last year due to higher bookings after the easing of Covid-19 pandemic-related restrictions and favorable demand conditions. The composite output index that combines the performance of manufacturing and services, rose to 57.6 in April from 54.3 in the previous month. This was the fastest pace of growth in five months. Looking ahead, inflationary pressures triggered by the global surge in commodity prices and supply bottlenecks due to the war in Ukraine are likely to damp activity in coming months. Powered by Commodity Insights