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Services PMI in Oct bounces back from 10-mth low
November 07, 2024
|Business Standard
Growth in India's dominant services industry picked up last month after dipping to a 10-month low rate in September amid a marked expansion in demand, according to a private business survey that on Wednesday also reported improved job creation in the sector.
The headline Purchasing Managers' Index (PMI) figure, released by HSBC and compiled by S&P Global, improved to 58.5 in October from 57.7 in September. The index has been above the neutral 50-mark that separates contraction from expansion for the 39 months straight.
"Participants commonly cited healthy customer demand domestically and from abroad," said the survey.
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