Services activity in November expands at second-fastest pace in decade

New Delhi, December 3

India’s services sector activity expanded at the second-fastest pace in more than a decade during November, driven by sustained rise in new work and improvement in market conditions, a monthly survey said on Friday.

The seasonally adjusted India Services Business Activity Index was at 58.1 in November, fractionally down from 58.4 in October. The November figure points to the second-fastest rise in output since July 2011.

For the fourth straight month, the services sector witnessed an expansion in output. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

“The recovery of the Indian service sector was extended to November, with a robust improvement in sales enabling the second-fastest rise in business activity in nearly ten-and-a-half years,” Pollyanna De Lima, Economics Associate Director at IHS Markit, said.

Although companies forecast higher business activity volumes over the course of the coming year, the expansion is expected to be restricted by price pressures. — PTI

Fourth straight month of expansion

• The seasonally adjusted India Services Business Activity Index was at 58.1 in November, fractionally down from 58.4 in October. The November figure points to the second-fastest rise in output since July 2011
• For the fourth straight month, the services sector witnessed an expansion in output. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction

Join Whatsapp Channel of The Tribune for latest updates.