ForumIAS LATEST
- FRC 2027: SFG Residential program | accepting application for Tranche-2 Click Here to know more →
- CSAT Classes for Prelims 2027 by Rishi Bhargav sir starts 16 Nov. at 5 PM Click Here to know more →
- Prelims Sprint classes 2027: Starts 2nd Nov. at 4:30 PM | First class open to all. Click Here to know more →
‘Services growth in Jan. fastest in three months’
Context:
According to a survey, The Indian services sector remained in expansion mode in January, registering the fastest rise in activity in three months driven by a renewed increase in new business orders.
Highlights of the Report:
- The Indian service sector continued to expand in January
- Also, the rate of job creation was the fastest since last September.
- The seasonally-adjusted Nikkei Services Business Activity Index rose to 51.7 in January from 50.9 in December
- The index remained above the neutral mark of 50 in January that separates growth from contraction for the second consecutive month.
- In November, the index stood at 48.5.
- Though growth rates for activity and employment accelerated since December, it remained weaker than their respective long-run survey averages.
- The service sector lagged behind when compared to manufacturing
- The main constraint to business was the Goods and Services Tax (GST)
