Activity in India's dominant services sector expanded at the fastest pace in 12 years in February on strong demand as price pressures eased further, a private business survey showed on Friday.
slowed to an annual 4.4% in October-December from 6.3% in July-September as pent-up demand eased and weakness in the manufacturing industry continued.rose from 57.2 in January to 59.4 in February, its highest since February 2011 and considerably above all forecasts in a Reuters poll which had predicted a fall to 56.2.
It was above the 50-mark separating growth from contraction for a 19th straight month, its longest stretch of expansion since June 2013. "The service sector more than regained the growth momentum lost in January...as demand resilience and competitive pricing policies underpinned the joint-best upturn in sales over the same period," noted Pollyanna De Lima, economics associate director at S&P Global.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese business activity surges to pre-COVID levels in Feb - PMI By Investing.com*CHINESE BUSINESS ACTIVITY SURGES TO PRE-COVID LEVELS IN FEBRUARY - 🇨🇳🇨🇳
Read more »
China Feb services activity jumps sharply as demand recovers- Caixin PMIActivity in China's services sector expanded at the fastest pace in six months in February as the removal of tough COVID-19 restrictions revived customer demand, driving a solid increase in employment, a private sector survey showed on Friday.
Read more »
Japan's Feb service-sector activity grows at fastest rate in 8 months - PMIJapan's services sector activity grew at the fastest pace in eight months in February, a private sector survey showed on Friday, as the economic impact of the coronavirus pandemic receded globally.
Read more »
Copper price rises as China’s economy shows strong recoveryChina's manufacturing activity expanded at the fastest pace in more than a decade in February.
Read more »
China's industrial engine revs upChina's manufacturing sector has accelerated sharply since the end of the government's harsh 'zero-COVID' lockdowns in December.
Read more »