Services PMI rises to 52.8 in Jan on the back of demand, consumer optimism

Growth in India's dominant services sector picked up in January as demand improved and consumer optimism was buoyed by the start of a huge Covid-19 vaccination drive, although firms continued to shed jobs, a private survey showed on Wednesday. That improved sentiment was in line with findings of a Reuters poll last month that predicted Asia's third-largest economy would recover from the coronavirus crisis more strongly than previously thought, lifted by the government's "wealth and wellness" budget announced on Feb.

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