Mumbai, April 6: Services and manufacturing sector expansion propelled overall economic activity in India during March, a key macro data showed on Wednesday.
The Nikkei India composite PMI (purchasing magers’ index), a key macro data that indicates monthly trends in overall economic activity, showed rise at 54.3 in March from 51.2 in February.
An index reading of above 50 indicates an overall increase in economic activity, while below 50 an overall decrease. The composite PMI weighs the average of the manufacturing output index and the services business activity index. It is based on origil survey data collected from around 700 companies spread across sectors in India. (IANS)