Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
23 September, 2014 07:47 IST
News
Dec services PMI grows at fastest in pace in 3 months
Source: IRIS (04-JAN-13)
Comments  |  Post Comment

The HSBC India Services Business Activity Index posted 55.6 in December, up from 52.1 in the previous month signalling a sharp expansion in activity, the fastest in three months.

The HSBC India Composite Output Index posted 56.3 in December, up from 53.2 in November. The rate of expansion was sharp, and the fastest since February. Manufacturers and service providers both signalled increases in output, with rates of growth quickening in both sectors.

With manufacturing and services companies both registering sharp growth, the overall rate of expansion was steep and the fastest in ten months. Among other factors, monitored companies mentioned that new business increased in tandem with stronger demand.

Indian manufacturers and service providers both signalled rising staffing levels during December, amid reports of output growth. However, rates of expansion were only slight. Employment in the private sector rose at the slowest rate in the current 10-month sequence of job creation.

Optimism was signalled by service providers in India during December. Approximately 46% of monitored companies expect overall activity to increase in the upcoming year, and they mentioned anticipated rises in demand, the launch of new projects and increased advertising. 

Leif Eskesen, chief economist for India & ASEAN at HSBC said, ''The service sector provided some holiday cheer with activity fully recovering after two months of deceleration, led by a sharp rise in new business. The additional workload also led to a rise in outstanding business. Inflation readings, meanwhile, eased a bit. With growth showing signs of recovery and inflation still elevated, the case for a policy rate  cut is not yet convincing. However, the RBI has clearly teed up for rate cuts in January-March.''


News
USL to sell 11.35% stake in Pioneer Distilleries via OFS - 22-Sep-2014 21:01
Shristi Infra promoter buys 4.86% stake from Opulent VC - 22-Sep-2014 19:57
Engineers India secures consultancy contract - 22-Sep-2014 19:12
RBI approves appointment of V.G. Mathew as South Indian Bank MD and CEO - 22-Sep-2014 18:53
Jet Airways announces special economy fares - 22-Sep-2014 18:01
GAIL, Spoment in hunt for next Milkha Singh - 22-Sep-2014 17:49
'Buy' Titan; target Rs 450: ICICIdirect - 22-Sep-2014 17:19
City Union Bank opens new branch in Ariyalur district - 22-Sep-2014 16:57
Pidilite Industries to acquire Blue Coat biz - 22-Sep-2014 16:44
'Buy' Grasim; target Rs 4,350: ICICIdirect - 22-Sep-2014 16:35
Reliance Jio inks infra sharing deal with Indus Towers - 22-Sep-2014 16:24
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   hschm2 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer