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Growth in India’s services activity rose at its fastest pace in 19 months in January as demand picked up, a business survey showed today. The Nikkei/Markit Services Purchasing Managers’ Index (PMI) surged to 54.3 in January from December’s 53.6, marking a seventh month above the 50-level that separates growth from contraction. Growth was noted in four of the six monitored categories, the exceptions being Hotels & Restaurants and Transport & Storage. “The  Indian economy  shifted into a higher gear in January, supported by a quick rebound in manufacturing production following last month’s floods. Concurrently, the service sector gained traction and posted its strongest monthly gain in activity for over one-and-a-half years,” said Pollyanna De Lima, economist at Markit.  Read Full Article Over Here :  Business Standard News

After contracting in the previous month, manufacturing registered a four-month high growth in January following inflows of new business from both domestic and export sources, showed a widely tracked Nikkei purchasing managers'index (PMI) survey. However, investment goods output and new orders fell which may have impact on future growth of manufacturing. However, inflationary pressures remained on upside because of which a commentator associated with PMI does not expect the Reserve Bank of India to cut the policy rate on Tuesday.  Read Full Article Over Here :  Business Standard News