India's Composite PMI Output Index Ends Three Month Downturn

India's services activity grew for the first time in four months to a one and a half-year high in August. The IHS Markit Purchasing Managers' Index (PMI) rose to 56.7 in August from 45.4 in the previous month. A reading above 50 shows expansion and one below that indicates contraction. Services firms outperformed manufacturers for the first time in over three years, IHS Markit said. India's Composite PMI Output Index showed a recovery in private sector activity across India, ending a three-month period of downturn and was up to 55.4 in August from 49.2 in July, signalling a robust rate of expansion.

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