LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Indian services PMI rises first time in seven months to 52.2 in May

Indian services PMI tracked by Japanese stock exchange Nikkei rose to 52.2 in May. The Nikkei India Services PM is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 400 private service sector companies.  

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Indian services PMI rises first time in seven months to 52.2 in May
The services sector Purchasing Manager’s Index (PMI) rose to 52.2 in May as compared to 50.2 in April. Image Source: Pixabay
Written By: ZeeBiz WebTeam
Updated: Mon, Jun 05, 2017
10:57 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
January services PMI contracts for 3rd month, rebound likely January services PMI contracts for 3rd month, rebound likely
Nikkei India's services PMI rises 54.5 in October Nikkei India's services PMI rises 54.5 in October
Key Highlights:
  • Services PMI rose for first time since October 2016 to 52.2 in May.
  • Service providers took on extra staff in May and business sentiment blossomed.
  • GDP could expand at a faster rate if growth momentum is maintained in June.

The services sector Purchasing Manager’s Index (PMI) rose to 52.2 in May as compared to 50.2 in April, Japanese stock index Nikkei said on Monday.

“The Indian service sector recovered some recent lost ground, with a quicker rise in new business inflows boosting growth of both activity and employment during May,” the report said.

In October last year the services PMI recorded an upbeat score of 54.5. Post which demonetisation hit and the index contracted in November to 46.7.

However this has picked up again on the back of strong upturn in services and new work across the sector.

“Service providers took on extra staff in May in order to cope with greater workloads. Although modest overall, the rate of jobs growth accelerated to the fastest in almost four years. Factory jobs, on the other hand, fell in the latest month,” the report said.

However despite the acceleration from April PMI service rates the report said that the rates of increase in service activity and new work was still low.

“Input costs and output charges increased at softer rates that were broadly negligible in the context of historical PMI data. Meanwhile, business sentiment weakened on the back of growing concerns regarding competitive pressures,” the report added.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said, “The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though there are downside perils to this.”

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
India Services PMIPurchase Manager’s IndexService sectorNikkeibusiness sentimentJobsEconomy
RELATED NEWS
January services PMI contracts for 3rd month, rebound likely January services PMI contracts for 3rd month, rebound likely
Nikkei India's services PMI rises 54.5 in October Nikkei India's services PMI rises 54.5 in October

LATEST NEWS

Taarak Mehta Ka Ooltah Chashmah fee per episode: Dilip Joshi, Munmun Dutta, Shailesh Lodha, Mandar Chandwadkar, Amit Bhatt—how much they earn

Free Fire OB27 update released in India: Check how to APK download link, new map, characters and more

Strong fundamentals, valuations make Indo Borax and Chemicals Sandeep Jain's favourite

Odisha Board Exam 2021 News: Class 10 class 12 board exams POSTPONED, class 9 and 11 students to get PROMOTED WITHOUT EXAMS

New Covid 19 office guidelines for central government employees: Check fresh notice by MHA

Alert! WhatsApp status flaw allows stalkers to track users online? Check all details here

TOP Gainer on Nifty, Wipro shares zoom nearly 10% on strong results, Sharekhan pegs target at Rs 510

ICSE board exams update: CICSE postpones class 10, 12 board exams amid COVID-19

Maruti raises price 3rd time in a year amid rising input cost, stock up over 1% intraday

COVID-19: Role played by Indian government in speeding up vaccine development, production - All you need to know

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved