New Delhi : Rating agency S&P Global has recently presented some data related to the service sector in a survey. On the basis of these data, it has been found that there has been a lot of improvement in this sector in the month of November and at the same time record employment has been generated in it. In this month, India's business activities have reached the top level of 3 months. However, it has become clear from this survey that production inflation has reached the highest level in 12 years. According to this survey, there is a possibility of further increase in economic growth in the current festive quarter. It is being told that it is also expected to increase due to surge in private consumption.
According to S&P Global, the HSBC Purchasing Managers Index or PMI figure stood at 59.1 in the month of October. In the month of November it has increased to the level of 59.2. A PMI falling below 50 points indicates weakness in business.
growth in service sector
HSBC's India Chief Economist Pranjul Bhandari has said a big thing about this. He has said that despite growth in the service sector and slight slowdown in manufacturing, business activities have performed very well.
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This is the figure in November
In this survey released by S&P Global, the PMI figure has increased to 59.2 in the month of November. It is being told that this figure is the highest since the month of August. This index of manufacturing sector has come down to 57.3, which was recorded at 57.3 in the last month i.e. October. Foreign demand for service and manufacturing sectors has improved. Due to this improvement, exports have been at the top level for 4 months. There is also increasing price pressure on food and labor costs in the service sector along with raw materials used by manufacturers.
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