Indian private sector activity hits three year high on the back of new orders

Activity in the Indian private sector  surged to its highest level in over three years last month, driven by a marked increase in new business orders, according to figures from the Nikkei India Composite PMI Output Index. The index, which maps both manufacturing and services sectors, climbed from 51.2 in February to a 37-month high of 54.3 last month as the  Nikkei Services Business Activity index  recorded its highest level since June 2014.
“March PMI indices  signalled a reassuringly robust end to the financial year for the Indian economy, with sharper increases in new business spurring activity growth in both the manufacturing and service sectors,” said  Pollyanna De Lima, economist at financial services information providers Markit which collated the figures. “One disappointment, however, is the trend in employment, which showed little change through much of 2015-16,” she  added.

Source: indiatimes