Activity in India’s dominant services sector expanded at its fastest pace in more than a decade, signaling a strong rebound as lockdowns ease and the pace of vaccinations improve in Asia’s third-largest economy, a survey showed Wednesday.
The IHS Markit India Services Purchasing Managers’ Index rose to 58.4 in October from 55.2 in September -- the third straight month of expansion as the economy shrugs off pandemic disruptions. A reading above 50 signals growth while a print below that denotes contraction in activity. Service providers reported substantial upturn in business activity, with growth in new orders at its strongest since July 2011.
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November 03, 2021 at 01:56PM
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India's Services Activity Grows at Fastest Pace in Over a Decade - Bloomberg
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