Services sector sees upturn in Oct on improved demand

PTI

Updated At : 02:22 PM Nov 04, 2022 IST

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New Delhi, November 3

Services sector activities witnessed an upturn in October on the back of stronger gains in new business and increased hiring amid strengthening demand, a monthly survey said on Thursday.

The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from September’s six-month low of 54.3 to 55.1 in October, pointing to a quicker and marked rate of growth.

The headline figure was above the neutral 50 threshold for the 15th straight month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

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