Page 8 - Services Activity News Today

Activity in India's dominant services sector continued to grow at a robust pace last month supported by a strong recovery in domestic demand, a private survey showed, but elevated price pressures remained a major concern.

India's services sector activity saw robust growth in November but rising inflation remains a major concern.

The IHS Markit India Services PMI is compiled from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.

India's dominant services activity entered contraction territory for the first time in eight months due to restrictions imposed during the second wave of Covid-19. As a result of reduces economic activity, services sector jobs have also suffered.

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Service activity slows in December, PMI at 3-month low SECTIONS Share Synopsis The IHS Markit India Services Business Activity Index dropped to 52.3 in December from 53.7 in November. Agencies Job market conditions darkened, slipping back into contraction, although the pace of job shedding remained minimal. NEW DELHI: India’s services activity slowed to a three-month low level in December and staff hiring came to a halt on liquidity concerns, labour shortages and subdued demand as business op...