The Services Purchasing Managers’ Index (PMI) in India revealed a decline to 56.9 in November, marking a one-year low compared to October’s 58.4. However, the sector maintained its expansion streak for the 28th consecutive month, remaining above the crucial 50-point threshold that separates expansion from contraction.
Q: Why did India’s Services PMI fall to 56.9 in November?
A: Despite hitting a one-year low, it remained in expansion for the 28th consecutive month. The dip was partially offset by an uptick in the manufacturing index.
Q: What influenced the Composite PMI’s decline to 57.4?
A: The drop mirrored the Services PMI trend but was cushioned by the manufacturing sector’s improvement.
Q: What factors impact the services sector dynamics?
A: Resilient demand, new client acquisitions, and favorable market conditions drove output growth, despite a widespread slowdown in new orders.
Q: How does the global scenario affect Indian services?
A: Overseas demand increased but at the slowest rate since June, impacting job growth, which, while positive, was at its weakest since April.
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