India's services sector bounced back in October, buoyed by strong customer demand after a lull in September, according to a survey released on Wednesday.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 58.5 in October from 57.7 in September. This is the 39th month it has been above the 50-point threshold that distinguishes growth from contraction.
The index had surged to 60.9 in August and has stayed above 60 through much of FY25. Based on responses from around 400 service sector firms, the survey reveals robust domestic and international demand, spurring companies to hire at the fastest pace in over two years.
Businesses were able to grow and generate demand despite facing sharp increases in wages and food costs, which were passed on consumers, the survey noted.
Denne historien er fra November 07, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 07, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Using AI In Workflow To Make Work Less Stressful
Al's role in workflow automation goes beyond efficiency-it also directly impacts employee well-being
Employees' Provident Fund Has Issues. Can Employees Opt Out?
EPF contributors face mounting challenges as limited withdrawal options and high rejection rates persist
The Promise And Challenges Of Insurance Reform
One of the most awaited results of the hike in foreign holding is the infusion of capital
Becoming better at work with daily reflection
Fujifilm India's Arun Babu on the significance of constant learning
A new incentive structure could help preserve standing forests
The proposed tropical forest forever facility would use blended finance to reward countries for protecting their green cover
Let someone else play knight in shining armour for Disney
CEO Iger should quit can-kicking and help the next chief succeed
Thomas E. Kurtz gave us our Basic lessons in software
He wanted computers kept accessible, as seen in the programming language he pioneered
Why the 5-star hotel experience needs urgent reforms
From gagging TV sets to guiding guests on surviving tucked-in beds, plenty needs to be fixed
COP-29 could not escape the US election's impact
The $300 billion pledged by rich countries as climate funding is grossly insufficient. True, Trump's US may revert to climate scepticism, but others must try harder to mobilize funds
Empower women to participate equally in Digital India's success
We must go beyond bridging gaps in internet access and maximize women's agency in using devices
