Poor demand decelerates services output: PMI
Monday - March 5, 2018 11:52 am ,
Category : BUSINESS
Mumbai March 5 (IANS) "Poor underlying demand conditions" pulled the Indian services sector s output lower during February 2018 a key macro-economic data point showed on Monday.
Accordingly the seasonally adjusted Nikkei India Services PMI Business Activity Index declined to 47.8 in February from to 51.7 in January.
An index reading of above 50 indicates an overall increase in economic activity and below 50 an overall decrease.
A lower Services PMI also outweighed an upturn in manufacturing production in February.
Consequently the seasonally adjusted Nikkei India Composite PMI Output Index also declined.The index fell from 52.5 in January to 49.7 in February.
--IANS
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