India’a private sector expanded at the fastest pace in eleven months in January, as manufacturing output rebounded and growth of services activity quickened, survey figures from Nikkei and Markit Economics showed Wednesday.
The seasonally adjusted Nikkei Composite Output Index climbed to 53.3 in January from 51.6 in December. A reading above 50 indicates expansion in the sector.
Similarly, the Services Business Activity index rose to a 19-month high of 54.3 in January from 53.6 in the previous month.
New order inflows received by the Indian service sector grew for the seventh successive month in January. New business at goods producers returned to expansionary territory at the start of the year.
Service providers raised their staffing levels in January, following a stagnation in the previous month. However, the rate of job creation was only fractional. Manufacturing employment also rose at a marginal pace.
On the price front, input prices in the service sector increased for the fourth successive month in January. Nonetheless, the latest rise was modest overall and weak in the context of historical data. A same trend was also followed by the goods producing sector.
Output charge inflation at service providers moderated in January. Factory gate prices were raised at a broadly similar pace to December.
The material has been provided by InstaForex Company – www.instaforex.com