September 05, 2012 / 06:43 PM IST
Mecklai graph of the day: India services PMI
The HSBC Services PMI data released, has pointed out towards a visible growth in the services sector. The Indian services sector expanded at a fastest pace in the month of August from 54.2 in July to 55. The index has maintained a mark above 50 whereby a print below the mark would clearly indicate contraction in the economy.Services sector constitutes nearly 60% of the economic output. Indian software business is one of the important contributors to service sector wherein the companies have faced losses due to slowdown in US and Europe. Currently with the Central banks concentrating on the monetary easing measures a rise in demand is widely expected in the sector. Therefore to watch for is whether the data point continues to accelerate in the same manner with the upcoming various central banks meeting scheduled during the month.The below weekly graph of the day exhibits the Indian Services PMI data
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