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India's private sector growth at 42-month high

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Staff Writer | September 7, 2016
India's private sector activity expanded at the fastest pace in three-and-a-half years in August, survey figures from Markit Economics showed.
India private sector
Asia   The Nikkei index climbed to 54.6 in August
The Nikkei Composite Purchasing Managers' Index climbed to 54.6 in August from 52.4 in July. Any reading above 50 indicates expansion in the sector. The Services Business Activity Index also rose to 54.7 in August from 51.9 a month ago.

New business received by the Indian services sector grew at the quickest pace in forty-two months in August, underpinned by improved market conditions. Similarly, manufacturing order books increased at a sharp rate that was the quickest since December 2014.

Private sector as a whole, employment level remained unchanged in August as a slight increase at manufacturers offset a mild fall at services firms.

On the price front, input costs faced by service providers dropped slightly for the second straight month. This was due to lower diesel, fuel and vegetable prices. In contrast, selling prices climbed during the month.

Manufacturers signaled further increases in purchase costs and factory gate charges in August.