Services PMI recovers to 55.1 in Oct after hitting six-month low in Sept

Services PMI released by credit rating agency S&P Global improved to 55.1 in October from 54.3 in September

India’s services activity recovered slightly in October after hitting a six-month low in September, as favourable demand for services continued to underpin increases in new business and output amid inflationary pressures gathering pace.

The Purchasing Managers’ Index (PMI) for the services sector, released by credit rating agency S&P Global, improved to 55.1 in October from 54.3 in September, as the survey showed an expansion in fresh work placed with the Indian service providers.

A print above 50 in the survey denotes expansion, below that suggests contraction in services activity. The headline figure has been in the expansion zone for the