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PMI Services activity grows for second straight month in October to 51.7

The Nikkei India Services PMI Business Activity rose to 51.7 in October, from 50.7 in September

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Press Trust of India New Delhi
Services sector activity in India expanded for the second consecutive month in October, driven up by rising new orders — the fastest pace since June — amid positive demand conditions, says a monthly survey.

The Nikkei India Services PMI Business Activity rose to 51.7 in October, from 50.7 in September, indicating modest growth in the sector, as the reading remained below the long-run series average of 54.7.

In PMI lexicon, a print above 50 means expansion and a score below that denotes contraction.

"The service sector reported the fastest rise in new business since June. That said, these key growth indicators remained relatively

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