India services PMI rises to 51.5 in March
TOKYO -- The Nikkei India Services Purchasing Managers' Index, or PMI, rose to 51.5 in March from February's 50.3, marking above the 50.0 no-change level for the second month in a row.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
According to the survey, almost one-quarter of companies anticipate higher activity levels over the coming 12 months, with confidence attributed to improved advertising and strengthening demand conditions.
Pollyanna De Lima, an economist at IHS Markit, pointed "India's private sector economy stayed on an upward trajectory during March, benefiting from an upswing in demand and output. The country's rapid recovery from the demonetization-related downturn was accompanied by job creation and softer inflationary pressures."
See more information online: