Services sector posts growth after seven months

New Delhi, November 4

Indian services sector activity ended the seven-month sequence of decline and registered growth in October, supported by improved market conditions amid easing Covid restrictions, a monthly survey said on Wednesday.

At 54.1 in October, up from 49.8 in September, the seasonally adjusted India Services Business Activity Index posted above the 50 no-change mark for the first time since February.

“It’s encouraging to see the Indian service sector joining its manufacturing counterpart and posting a recovery in economic conditions from the steep deteriorations caused by the Covid pandemic earlier in the year,” said Pollyanna De Lima, Economics Associate Director at IHS Markit. — PTI