India's Services Sector Activity Improves Impressively But Stays In Contraction Zone

India's services sector activity rose for the fifth straight month as economic activity. The India Services Business Activity Index, compiled by IHS Markit, stood at 49.8 in September compared with 41.8 in August, according to a media statement. Despite this massive recovery, the index continues to be in contraction zone. The Composite PMI Output Index also rose to 54.6 in September from 46 in August as the manufacturing PMI soared to the highest in more than eight years in September.

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