empty
 
 

2018.11.0502:28:00UTC+00India's Private Sector Expands Most Since July

India's private sector expanded at the fastest pace since July on broad-based growth across services and manufacturing, survey data from IHS Markit showed Monday.

The Nikkei composite output index improved to 53.0 in October from 51.6 in September. The reading highlighted the strongest expansion in private sector activity since July.

Any reading above 50 indicates expansion in the sector.

The Nikkei services Purchasing Managers' Index climbed to 52.2 from 50.9 a month ago. The sector has remained in expansion territory for the fifth straight month.

Improved order flows supported the pick-up in output in October. Service providers continued to add to their payrolls.

The rate of cost inflation of service providers moderated from September's ten-month high. Similarly, charge inflation at service providers cooled in October.

Although services firms retained an optimistic view towards growth prospects, confidence waned in October.

"The PMI surveys brought positive news of stronger economic growth at the start of the third quarter of FY 2018/19, together indicating a welcome rebounded in private sector expansion from September's four-month low," Pollyanna De Lima, principal economist at IHS Markit, said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback