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Added on : 2018-04-05 18:22:49

Indian services sector activity returned to its growth track in March, driven by greater inflows of new work, following which firms increased their staffing levels at the fastest pace in 7 years, says a monthly survey. The seasonally adjusted Nikkei India Services Business Activity Index improved from 47.8 in February to 50.3 in March, indicating that business activity stabilised during the month. The index slipped below the 50-point mark, that separates expansion from contraction, in February. “India’s service activity stabilised at the end of the quarter, underpinned by a renewed rise in new work. Anecdotal evidence highlighted an improvement in demand conditions,” said Aashna Dodhia, Economist at IHS Markit, and author of the report.

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