Scorching services gain signals India growth rebound
03/07/2014 13:15
Services activity in India grew at the fastest clip in 17 months in June 2014 as demand rose, signaling an end to the slowdown in Asia’s third biggest economy, which has expanded below the 5 per cent mark for the past several quarters.
The gauge measuring services activity in India rose to 54.4 in June from 50.2 in the previous month, with a reading above 50 signaling expansion, HSBC and Market Economics said in a report on Thursday.
New orders in the services sector rose for the second month on the trot in June 2014, with the rate of growth the fastest since last February as underlying demand improved.
Private sector output rose at the fastest pace in 16 months in June 2014 as a combined gauge measuring manufacturing and services climbed to 53.8 from 50.7 in May.
The Modi mania seems to have lifted business sentiment amid bets that the new government may take steps to bolster growth, accelerate reforms and push investment.
A rise in input costs at services companies amid an uptick in fuel prices due to the Middle East crisis signal the risk to inflation in the Indian economy, diminishing bets of further policy easing in the near-term.
03/07/2014 13:15
Services activity in India grew at the fastest clip in 17 months in June 2014 as demand rose, signaling an end to the slowdown in Asia’s third biggest economy, which has expanded below the 5 per cent mark for the past several quarters.
The gauge measuring services activity in India rose to 54.4 in June from 50.2 in the previous month, with a reading above 50 signaling expansion, HSBC and Market Economics said in a report on Thursday.
New orders in the services sector rose for the second month on the trot in June 2014, with the rate of growth the fastest since last February as underlying demand improved.
Private sector output rose at the fastest pace in 16 months in June 2014 as a combined gauge measuring manufacturing and services climbed to 53.8 from 50.7 in May.
The Modi mania seems to have lifted business sentiment amid bets that the new government may take steps to bolster growth, accelerate reforms and push investment.
A rise in input costs at services companies amid an uptick in fuel prices due to the Middle East crisis signal the risk to inflation in the Indian economy, diminishing bets of further policy easing in the near-term.
