Activity in India’s services sector grew at the fastest pace in three months in January, underpinned by a recovery in new orders that prompted companies to sharply increase hiring. The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 51.7 in January from December’s 50.9, holding above the 50 mark that separates growth from contraction for a second month. Despite the improvement in services activity, a composite PMI, which tracks both manufacturing and services businesses, fell to 52.5 from 53.0 in December.

(Live Mint)