Services gain strength in Oct: Survey
This is a representational image (Pic credit: IANS)
NEW DELHI: Services sector activity regained strength in Oct on the back of robust domestic and overseas demand, recovering from a 10-month low in Sept, results of a survey showed on Wednesday.
In response to robust sales and optimism regarding near-term prospects, companies recruited extra workers to the greatest degree in just over two years, according to the survey.
Rising from 57.7 in Sept to 58.5 in Oct, the headline figure was consistent with a sharp and accelerated rate of growth that outpaced its long-run average, it showed. “During Oct, the Indian services sector experienced strong expansions in output and consumer demand,” said Pranjul Bhandari, chief India economist at HSBC.
