India's services PMI rises to a five-month high in Dec on buoyant demand

Strong growth returned to the services sector in December as international business helped it scale a five-month high, according to a global survey released on Monday.

The widely tracked Nikkei India Services Purchasing Managers Index (PMI) stood at 53.3 in December, up from 52.7 in November. In PMI parlance, the 50-mark threshold separates expansion from contraction.

Services growth had peaked to a 43-month high of 54.7 in August, followed by two-straight months of contraction. This was in line with manufacturing activity, which also rose to 52.7 from 51.2 in November after October’s two-year low, according to a similar survey released last week.