India services PMI - August 2020 - By Angel Broking

Mr. Jyoti Roy , DVP - Equity Strategist, Angel Broking Ltd

"India services PMI for the month of August came improved to 41.8 in August from 34.2 in July thus signaling an improvement in the services sector. While activity in the services sector has improved from post pandemic lows, the recovery is still weak as compared to the manufacturing sector which has been posting a smart recovery as signaled by the manufacturing PMI and auto sales numbers. The manufacturing PMI for August has improved to 52 from 46 in July while two wheeler, PV, LCV and tractor sales also posted strong growth sequentially. We expect the services sector to improve gradually from here on post unlock 4.0 over the next couple of months due to pent up demand and inventory push prior to the festive season."

Source : Equity Bulls

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