Nov services PMI at a 3-month high of 56.4 thanks to new biz expansion

The headline figure has been in the expansion zone for the sixteenth consecutive month since August 2021

India's services activity recovered to a three-month high in November as services firms benefited from accommodative demand. New business inflows rose markedly and at the quickest pace in the last three months. 

The Purchasing Managers' Index (PMI) for the services sector released by credit rating agency S&P Global improved to 56.4 in November from 55.1 in October, as the survey showed an expansion in output and job creation. 

A print above 50 in the survey denotes expansion. Below that suggests a contraction in services activity. The headline figure has been in the expansion zone for the sixteenth consecutive month since