Services PMI expands for 4th straight month as vaccine drive fuels optimism

Though growth began accelerating in December, headline figure remained below its long-run average of 53.3 and was consistent with a moderate pace of growth

Activity in India’s services sector expanded for the fourth straight month in January as the Covid-19 vaccination roll-out drove business optimism, a private survey showed on Wednesday.  

The IHS India Services Business Activity Index rose to 52.8 in January from 52.3 in December, suggesting the pace of growth was moderate.

The 50-point mark separates expansion from contraction. But it should be noted that the PMI is a month-over-month indicator, showing improvement over the previous month, and not over the previous year.

"The Indian services sector enjoyed good levels of activity in January, with new business volumes rising for the fourth