The recovery in the Indian services sector was sustained in November as new work orders supported business activity growth and the first rise in employment in nine months, a monthly survey said on Thursday.
The seasonally adjusted India Services Business Activity Index posted above the critical 50 mark that separates growth from contraction for the second month in a row during November.
Despite falling from 54.1 in October to 53.7 in November, the latest reading was still indicative of a solid pace of expansion amid better demand conditions and a relaxation of COVID-19 restrictions.
“The Indian service sector continued to recover from the coronavirus-induced contractions recorded from March through to September. Companies enjoyed a further rise in new work intakes and responded to this by lifting business activity and employment,” said Pollyanna De Lima, Economics Associate Director at IHS Markit.
Source: Financial Express
