Services activity in India increased at its fastest rate in three months in November . New orders placed with service providers in India increased for the sixteenth month in a row .
New Delhi, India (India), December 5: Services activity in India increased at its fastest rate in three months in November, supporting a dramatic increase in services production and further job growth, according to a study released on Monday by S&P Global.New orders placed with service providers in India increased for the sixteenth month in a row.The rate of growth was marked and the fastest since August was recorded.According to panellists who participated in the survey, sales were boosted by favorable underlying demand and fruitful advertising, according to the release.Indian service providers continued to reap the rewards of strong domestic demand, with PMI data for the penultimate month of 2022 indicating faster increases in new business and output.
The index rose to 55.3 in October, with a reading above 50 suggesting an overall increase relative to the previous month and a reading below 50 indicating an overall decrease.Manufacturing growth in India was boosted by demand resilience, according to S&P Global, who released a statement last Thursday.