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March services activity: The report stated that March saw one of the strongest expansions in total sales and business activity, close to 14 years, helped by a series record in new export orders.
In March, the HSBC India Services Business Activity Index surged due to strong demand and new export orders, leading to a substantial increase in total sales and business activity in close to 14 years.
The seasonally adjusted HSBC India Services Business Activity Index rose from 60.6 in February to 61.2 in March, one of the strongest expansions in total sales and business activity in close to 14 years
India's services sector witnessed one of the strongest growth rates in over 13-and-a-half years in March on the back of strong demand that spurred sales and business activity, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.6 in February to 61.2 in March, one of the strongest expansions in total sales and business activity in close to 14 years. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The seasonally adjusted HSBC India Services Business Activity Index rose to 61.2 in March from 60.6 in February. The performance was largely attributed to healthy demand conditions, efficiency gains and robust sales. The HSBC India Composite PMI Output Index rose to 61.8 in March from 60.6 in February, the second-strongest growth in over 13-and-a-half years. A reading above 50 indicates expansion.