The Nikkei India Services PMI shows that private sector activity in the services sector contracted in November, with the reading falling to 48.5 from 51.7 in October. The services PMI had contracted in July and August this year and the bounce seen in October has now fizzled out. On the other hand, the manufacturing PMI for November has shown a rebound, albeit after a weak reading for October. Similarly, the average services PMI for October-November 2017 was 50.1 compared to 50.6 in October-November 2016. First, both manufacturing and services firms are hiring workers, with the PMI manufacturing employment sub-index at its highest level since September 2012.

Source: Mint December 05, 2017 10:41 UTC