Indian Economy News Live: India's services industry saw activity increase at the fastest pace in six months during the final month of 2022 amid robust demand, fuelling business optimism despite high costs, a private-sector survey showed.
The S&P Global India services purchasing managers' index (PMI) rose to 58.5 in December from 56.4 in the previous month, confounding expectation in a Reuters poll for a fall to 55.5.
The index was above the 50-mark separating growth from contraction for the 17th straight month - the longest stretch of growth since June 2013.
"As we head into 2023, companies signalled strong optimism towards the outlook for output," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.
"Inflation trends were mixed, as input prices rose at a faster pace and the upturn in charges moderated."
Expenses rose faster due to greater energy, food, staff and transportation costs so prices charged remained elevated despite moderating slightly from November, when they rose at the quickest rate since July 2017.
This could elevate India's retail inflation which eased to 5.88% in November, below the top of the Reserve Bank of India's target band of 4%-6% for the first time in 2022.
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NCLAT directs Google to deposit 10 per cent of the Rs 1,337.76 cr penalty by CCI
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Price as on 04 Jan, 2023 10:56 AM, Click on company names for their live prices.
Indian Economy News LIVE Updates: Growth of Indian private sector output climbs to near 11-year high
India's services industry saw activity increase at the fastest pace in six months during the final month of 2022 amid robust demand, fuelling business optimism despite high costs, a private-sector survey showed.The S&P Global India services purchasing managers' index (PMI) rose to 58.5 in December from 56.4 in the previous month, confounding expectation in a Reuters poll for a fall to 55.5.The index was above the 50-mark separating growth from contraction for the 17th straight month - the longest stretch of growth since June 2013."As we head into 2023, companies signalled strong optimism towards the outlook for output," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence."Inflation trends were mixed, as input prices rose at a faster pace and the upturn in charges moderated."Expenses rose faster due to greater energy, food, staff and transportation costs so prices charged remained elevated despite moderating slightly from November, when they rose at the quickest rate since July 2017.This could elevate India's retail inflation which eased to 5.88% in November, below the top of the Reserve Bank of India's target band of 4%-6% for the first time in 2022.
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Price as on 04 Jan, 2023 10:15 AM, Click on company names for their live prices.
Head constable at Israel Embassy Residential Complex in Vasant Vihar, South Delhi has died by suicide by shooting himself. No suicide note was found. During initial investigation, it was found that he killed himself due to domestic reasons. Investigation underway
- Delhi Police
Delhi horror
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We are seeking a report from the Airline and shall take action against those found negligent
- Directorate General of Civil Aviation
Air India constituted an internal committee in this incident and recommended to put the male passenger on 'no-fly list', the matter is under government committee and decision is awaited
- Air India official
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Biden to receive Japan's PM Kishida on Jan. 13: White House
US President Joe Biden will host Japan's Prime Minister Fumio Kishida on January 13, the White House said in a statement on Tuesday. "President Biden looks forward to welcoming Prime Minister Kishida Fumio of Japan to the White House on Friday, January 13th to further deepen ties between our governments, economies, and our people," the statement said, adding that the leaders will also discuss security issues around North Korea, Ukraine and China.
FTX founder Sam Bankman-Fried pleads not guilty to fraud
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Joe Biden re-nominates Eric Garcetti as US ambassador to India
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U.S. FDA allows abortion pills to be sold at retail pharmacies -GenBioPro says
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5 countries start responsibilities as newly elected members of UNSC
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Ukrainian PM outlines govt priorities for 2023
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Japan Dec factory activity posts sharpest fall in more than 2 years -PMI
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Australia win toss, bat in third Test against South Africa
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India building a world order based on spirituality, morality: President Murmu
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Russia says toll from Ukraine strike rises to 89
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