India's services sector gathered momentum in October, with business activity expanding at its fastest pace in four months as domestic demand strengthened and companies secured more orders. At the same time, businesses saw some relief on the cost front, with input price inflation cooling to its lowest level in over six years. The HSBC India Services Purchasing Managers' Index (PMI), released on Wednesday, showed that the seasonally adjusted business activity index climbed to 55.8 in October, compared with 55.2 in September.
\n\nThe improvement reflected better demand conditions, an increase in new customer acquisitions and successful advertising campaigns. However, the survey also highlighted some areas of moderation, including slower employment growth and a weaker performance in international orders.
\n\nNew business inflows strengthened during October, with sales registering their quickest growth in four months. Companies surveyed attributed the increase to favourable market conditions, stronger domestic demand and efforts to attract new clients.
\n\nAll four broad service categories covered by the survey reported faster growth in business activity and new orders, indicating that the improvement was spread across the sector.
\n\nFinance and Insurance emerged as the strongest-performing segment, leading the expansion in both output and new business. In contrast, Real Estate and Business…
Original source: https://www.timesnownews.com/business-economy
