NEW DELHI: India’s services sector recovers from contractions as its Nikkei India Services PMI Business Activity Index grew from 47.5 in August to 50.7 in September.
According to IHS Markit, manufacturing output grew for the second consecutive month. The Nikkei India Composite PMI Output Index rose from 49.0 to 51.1. The combination of marketing campaigns and stronger demand conditions led to new business growth in September. New work and business activity also rose for the first time in three months. Moreover, factory output and orders rose, thanks to stronger domestic demand. At the composite level, growth in new orders was only slight and weaker than the long-run trend.
