Purchasing Managers' Index (PMI) survey. A reading above 50 indicates expansion and below the threshold points to contraction.For now, domestic demand continues to be the driver of this recovery, however, services providers are optimistic about increased output in the coming 12 months.
The survey report said that the positive sentiment was supported by beliefs that the roll-out of covid-19 vaccines would underpin demand growth and improvements in the wider economy.
The overall degree of optimism was at an 11-month high, it added.Also Read | The Finance Commission doesn’t rock the federal boatOn the flipside, input costs increased for the seventh straight month at the start of 2021, with monitored companies reporting higher prices for fuel.