India's service sector activity index rose to 41.8 in August from 34.2 in July, survey results from IHS Markit showed Thursday. The reading was the highest since March, before the escalation of the global COVID-19 pandemic. Any score below 50 indicates contraction in the sector. Output declined further in August with the rate of contraction solid overall and new business fell for the sixth month in a row with the rate of decline steepest since September 2014. Employment decreased for the sixth straight month in August, albeit at a slower pace. On the price front, cost burden increased for the second straight month in August and the rate of input price inflation was faster. Output prices rose marginally. Sentiment for the next 12-months remained neutral in August after being negative in the previous three months.
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