Services output in April expands at fastest rate in nearly 13 years
Despite the substantial uptick in new orders, staff levels in the service sector increased only marginally in April.
Despite the substantial uptick in new orders, staff levels in the service sector increased only marginally in April.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from September's six-month low of 54.3 to 55.1 in October.
Inflation outlook, however, worsened as input prices rose at the sharpest pace in the survey history.
Employment rose for the first time in five months, but business sentiment was restrained by inflation concerns, says survey.
The marginal growth in India's services PMI was attributed by panellists to greater bookings, better demand conditions and the retreat of the pandemic.