New orders help services sector to hire at fastest pace in 7 years : PMI

India's services sector continued to face higher cost burden in March

HHigher work orders helped India’s services sector return to the growth charts in March and raise hiring at the fastest pace in a little more than seven years, showed the widely tracked Nikkei India Services Purchasing Managers’ Index (PMI).

PMI for the sector was 50.3, recovering from the 47.8 of February. The 50-point mark separates expansion from contraction, indicating the sector’s health remains in tumult. In the 12 months to March, the sector contracted four times in the PMI measure.

Service activity had contracted in February for the first time in three months as rising price pressure led to a decline in