India's services sector activity has shown strong growth during October. This growth in the market was seen due to an increase in demand and hiring. This information was given in a monthly survey on Thursday.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from a six-month low of 54.3 in September to a level of 55.1 in October, reflecting an uptick in services sector activity and growth.
Let us tell you that for the fifteenth consecutive month, this figure was above the level of neutral 50. In Purchasing Managers Index (PMI) parlance, a score above 50 indicates expansion, while a score below 50 indicates contraction.
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