Services sector grows for second straight month, but rate falls in Nov: PMI

Hiring reverses declining trend, services inflation accelerates

Services activity — the biggest sector of India’s economy — saw growth easing in November, but the index remained in expansion zone for the second month after seven months of continuous decline, a private survey showed on Thursday.

The widely tracked IHS purchasing managers’ index (PMI) showed employment rose for the first time in nine months as domestic demand remained strong, while that from overseas markets declined.

The index declined to 53.7 in November from 54.1 in October. In the PMI lexicon, any reading above 50 denotes expansion, while a print below that is contraction.

A day ahead of monetary policy announcement by