Current Trends in Indian Economy
Services PMI shows surge in December 2022
- As per the S&P Global India Services Purchasing Managers’ Index (PMI), India’s services sector reported a sharp growth in new business in December, 2022 led by finance and insurance services.
- The index rose to 58.5 last month from 56.4 in November 2022.
- A reading of 50 on the index indicates that there is no change in business activity levels.
- Real estate and business services saw the slowest expansion in new orders.
- India’s Manufacturing PMI also reported a strong rise in December 2022 as per the data released by S&P Global