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Services sector grows in March, spurs fastest hiring spree in 7 years: PMI

After taking a big hit in February, the Nikkei/IHS Markit Services PMI managed to narrowly push back above the 50-mark that separates growth from contraction, rising to 50.3 last month from 47.8

Reuters  |  Bengaluru 

India's services industry returned to growth in March as new business picked up on improved demand, a private survey showed on Thursday, encouraging firms to hire at the fastest pace in nearly seven years. Hit by disruptions from a shock ban of high value currency notes and confusion around product pricing after the implementation of a new tax, the services industry had a disappointing fiscal year 2017/18. Performance in March, the final month of the last fiscal year, was only slightly better. After taking a big hit in February, the Nikkei/IHS Markit Services Purchasing ...

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First Published: Thu, April 05 2018. 10:52 IST
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