Dec services PMI at a 6-month high, thanks to stronger inflow of new biz

The headline figure has now been in the expansion zone for seventeen consecutive months since August 2021

India's services activity recovered to a six-month high in December as services firms witnessed a quicker upturn in new business that boosted output growth. Companies linked the upturn to robust intakes of new work and favourable market conditions.

The Purchasing Managers' Index (PMI) for the services sector released by credit rating agency S&P Global improved to 58.5 in December from 56.4 in November, as the survey showed an expansion in both the output and job creation. 

A print above 50 in the survey denotes expansion. Below that suggests a contraction in services activity. The headline figure has been in the