India’s services sector recorded its highest uptick in new business and output levels since June 2010 this April, led by a strong upturn in the Finance and Insurance segment, as per the seasonally adjusted S&P Global India Services PMI® Business Activity Index, which rebounded from a decline to 57.8 in March to 62 in April.
A reading of 50 on the index indicates no change in business activity levels
New export orders expanded for the third month in succession and at the fastest pace over this period. However, job creation remained negligible in April and input cost inflation, which had hit a two-and-a-half-year low in March, resurged to a three-month high with firms reporting a rise in costs on food, fuel, medicine, transportation and wages.
