31 July, 2014 14:56 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
ICICI Bank Q1 earnings climb 16.80% - 31-Jul-2014 14:15
Syndicate Bank Q1 profit rises 7.3% - 31-Jul-2014 12:48
Moser Baer launches Crypto token - 31-Jul-2014 12:34
INOX to acquire Satyam Cineplexes - 31-Jul-2014 12:01
HCL Tech Q4 nos beat expectations; positive on stock: Angel - 31-Jul-2014 11:46
Grasim commences VSF plant operation at Vilayat, Gujarat - 31-Jul-2014 11:30
HCL Tech Q4 profit surges 53.7%; up 13% sequentially - 31-Jul-2014 09:47
Steelcast swings to loss in Apr-Jun quarter - 30-Jul-2014 19:13
T C F C Finance standalone quarterly profit surges 97.22% - 30-Jul-2014 19:04
Bodal Chemicals standalone quarterly earnings zoom 27.95 times - 30-Jul-2014 18:50
Basant Agro Tech (India) standalone quarterly earnings climb 1.97% - 30-Jul-2014 18:45
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   f2xjpv 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