Activity in India's services sector rose for the fourth straight month in January as the Covid-19 vaccination roll-out drove business optimism, a private survey showed yesterday. The IHS India Services Business Activity Index rose to 52.8 in January from 52.3 in December, reflecting that the pace of growth was moderate. The 50-point mark separates expansion from contraction.
India's service sector were confident of a rise in output in the coming 12 months on the back of beliefs that the roll-out of Covid-19 vaccines would underpin demand growth and improvements in the wider economy. The overall degree of optimism was at an 11-month high. The Composite PMI Output Index, which accounts for both manufacturing and services edged up to 55.8 in January, from 54.9 in December.
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