India's services sector saw strong growth in November, PMI shows
The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, stayed almost unchanged at 58.4 in November from 58.5 in October, but was lower than a preliminary estimate of 59.2.
A sub-index measuring new business — a gauge of demand — fell from October but showed no concerning signs of weakness. It was supported by international demand that rose at its fastest pace since August.
Nevertheless, a substantial improvement was seen in the business outlook for the year-ahead based on predictions of strong demand. The future activity sub-index was the highest in six months.
Solid demand for services resulted in the fastest pace of hiring since the survey's inception in December 2005.
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