India Services Activity For October Increases Even As Price Pressure Mount

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    India's services industry activity rose at its fastest in the month of October even as prices increased. The Nikkei/IHS Markit Services Purchasing Managers' Index stood at 51.7 for October which is the highest since June as demand strengthened in the dominant services sector.

     India Services Activity For October Increases Even As Price Pressure Mount

    For the September month, the services PMI index was at 50.7 while for July and August it was below 50 that reflects contraction. The implementation of GST from July 1 resulted in doubts concerning pricing and hence both manufacturing as well as services sector witnessed a sluggish phase.

    The manufacturing sector reported barely any growth for the last ended month. An economist at IHS Markit said, "recovery from the GST implementation was sustained in the private sector in October, mainly radiating from service providers as growth in manufacturing was relatively subdued".

    The new business sub-index reflecting both domestic as well as international demand increased from 51.1 in September to 51.5 for October month. Due to it composite index considering both manufacturing and services activity increased to 51.3 in October as against 51.1 in September.

    Goodreturns.in

    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more