India's Services Sector Activity Expands For First Time Since February

Last Updated : Nov 04 2020 | 4:31 PM IST

India's service sector activity saw expansion for the first time since February in October, survey results from IHS Markit showed Tuesday. The IHS Markit services Purchasing Managers' Index rose to 54.1 in October from 49.8 in September. New work increased in October, while new orders from abroad dropped further. Employment continued to decline in October though.The 12-month outlook for business activity remained positive. The survey showed that the composite output index, which combines services and manufacturing output, rose to 58.0 in October from 54.6 in the previous month. This was the highest in nearly nine years.

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India's Services Sector Activity Expands For First Time Since February