The Indian service sector remained in expansion mode in January, registering the fastest rise in activity in three months driven by a renewed increase in new business orders, says a monthly survey. Even though growth rates for activity and employment accelerated since December, it remained weaker than their respective long-run survey averages. The seasonally adjusted Nikkei Services Business Activity Index improved to 51.7 in January, up from 50.9 in December, signalling a faster expansion. The index remained above the neutral mark of 50 in January, that separates growth from contraction for the second consecutive month. Going forward, service sector companies in India remained optimistic regarding expected activity levels in 12 months time.

Source: dna February 05, 2018 05:48 UTC