India’s Services Activity Recovers Momentum in October
The services sector also picked up pace amid India’s festive season last month as shoppers splurged, boosting consumption.
Photographer: Kanishka Sonthalia/BloombergThis article is for subscribers only.
India’s services activity recovered some lost momentum in October despite inflationary pressures, buoyed by strong domestic demand that boosted growth in new work and supported hiring activity.
The S&P Global India Purchasing Managers Index for services rose to 55.1 last month from a six-month low of 54.3 in September, data showed Thursday. A number above 50 reflects an expansion in activity, while anything below depicts contraction.