Service sector returns to growth on strong demand; PMI at 52.7 in November

Wednesday's upbeat survey comes after official data showed India's annual economic growth slowed to 4.5% in the July-September quarter, its weakest pace since 2013.

India's dominant services sector bounced back to growth in November, expanding at its fastest pace in four months, driven by a strong pick-up in new business, a private sector survey showed on Wednesday. The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 52.7 last month from 49.2 in October, above the 50-mark separating contraction from growth on a monthly basis.

"The main positive to be taken from November's survey was a renewed increase in new work, which provided the platform for growth of services activity and employment whilst resulting in an improvement in business confidence," said Pollyanna De Lima, principal