Economic Buzz: India Nikkei Private Sector Activity Advances In April

Indias seasonally adjusted Nikkei India composite output index rose to 51.9 in April from 50.8 in March, survey data from IHS Markit showed Friday. Any reading above 50 indicates expansion in the sector. Private sector activity expanded at the sharpest pace in three months in April, driven by faster output growth in both the manufacturing and service sectors. Similarly, the services business activity index climbed to 51.4 in April from 50.3 in the preceding month. April data pointed to higher order book volumes across Indias service sector amid favorable demand conditions. Manufacturing orders grew for the sixth successive month.