Business exercise rises for 2nd month in row

New Delhi, December 3

The recovery in the Indian services sector was sustained in November as new work orders supported business activity growth and the first rise in employment in nine months, a monthly survey said on Thursday.

India Services Business Activity Index posted above the critical 50-mark that separates growth from contraction for the second month in a row during November.

Despite falling from 54.1 in October to 53.7 in November, the latest reading was still indicative of a solid pace of expansion amid better demand conditions and relaxation of Covid restrictions.

Services firms hired additional workers in November, ending an eight-month sequence of job shedding. On the prices front, the rates of inflation for input costs and output charges accelerated. — PTI

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