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Services PMI Grows to 5 Months High

Published on May 06, 2022
Current Context: A five months surge has been reported in the services sector PMI released by S&P.
Services PMI Grows to 5 Months High
  • Purchasing Managers Index is an index of goods and services sector growth expansion. It categorizes countries below and above 50 indicating contraction and expansion respectively.
  • India's Services sector PMI has jumped to 57.9 indicating robust demand in her services sector. The services sector contributes 54% of gross value added (GVA), currently.
  • The PMI hike is indicative of rising employment opportunities and market expansion of India's services sector. PMI measures both goods and services sectors separately and then adds them to collate the combined PMI score.

Question:

Q.1 What does a PMI score of 47 indicate?
a. Contraction in economic development
b. Expansion in economic development
c. Appreciation of rupee
d. Depreciation of rupee
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