The robust expansion in services activity was in contrast to that of manufacturing. as in December, the manufacturing PMI came in at an 18-month low of 54.9.
The PMI is an indicator that measures change in manufacturing and services activity on a month-on-month basis.A reading above 50 points to expansion in activity as against the previous month, while a reading below denotes contraction.
The composite PMI, a weighted average of both manufacturing and services PMI, rose to 58.5 in December from 57.4 in November.
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