Good news: India's services sector output rises to a record high in November, reaching a three-month high

Posted on 5th Dec 2022 03:11 pm by rohit kumar

India's services sector output growth accelerated to a three-month high in November as trade flows picked up significantly amid favorable demand conditions, a monthly survey said on Monday. This growth was indicated when the S&P Global India Services PMI Business Activity Index rose from 55.1 in October to 56.4 in November. Survey participants associate the latest expansion with demand strength, successful marketing, and continued growth in sales.

 

For the 16th consecutive month, the headline figure was above the neutral 50 range. In Purchasing Managers' Index (PMI) parlance, an index above 50 means expansion while a score below 50 indicates contraction. Pollyanna de Lima, associate director of economics at S&P Global Market Intelligence, said Indian service providers are expected to spend the most in 2022. continued to benefit from strong domestic demand, with PMI data showing a rapid growth in new business and output.

 

 

On the jobs front, continued expansion in new work and buoyant demand continued to drive job creation in the services economy. The survey said that employment grew at a solid pace which was the fastest in three years. On the prices front, service companies across India reported higher operating expenses. In addition to higher transportation costs, firms reported higher prices for energy, food, packaging, paper, plastic and electrical products.

 

Also Read: Enterprises related to agriculture will get special attention in the general budget; High expectations from livestock development, dairy, and fisheries

Other news

PM Modi said- If even Baba Saheb cannot change the Constitution then how can we dare? Said this on Ram and Shakti

Prime Minister Narendra Modi went out to hold five rallies across the country on Tuesday. While g

Seema Haider India-Pak Love Story: Threat of 26/11-like attack if Seema Haider does not return to Pakistan, police engaged in investigation

An unidentified person called the Mumbai traffic police control room threatening to carry out 26/

Where was Kareena during the knife attack on Saif Ali Khan? Fans were shocked to see the pictures of the party.

The information about the attack on Saif Ali Khan has shocked everyone. Late night, the thief bro

Sidhu Moosewala's father's statement came amidst the news of his mother being pregnant, gave a surprising answer to the fans

For the past several days, news has been coming about the parents of late Punjabi singer Siddhu M

Japan's Prime Minister Kishida suddenly left for Ukraine from India, met PM Modi in Delhi

Japanese Prime Minister Fumio Kishida arrived in New Delhi on 20 March on a two-day visit to Indi

PM Modi US Visit: Talked to Biden, met Trump; Why is Modi's visit to America special before US Elections?

An important meeting is going to take place between Prime Minister Narendra Modi and US Pres

Adani Row: 'If Modi and Adani are together, then they are safe', Rahul Gandhi made allegations, raised demand for the arrest of the industrialist

Congress leader Rahul Gandhi made serious allegations in a press conference on Thursday on the co

Anushka Sharma's pregnancy is confirmed! She was seen flaunting her baby bump with her husband Virat Kohli, video went viral

Anushka Sharma Pregnancy: Bollywood actress Anushka Sharma has been in the news for some time abo

More disasters will come if developed countries do not fulfill their environmental promises: External Affairs Minister Jaishankar

On the environmental crisis, External Affairs Minister S. Jaishankar said that countries responsi

Lok Sabha Election 2024: Infighting in SP, situation worsens on Azam's seat; Akhilesh can play big gamble to convince

Talks between Azam Khan and Akhilesh Yadav seem to be deteriorating after Samajwadi Party nationa