India Services Growth Hits 4-Month High
India's dominant services sector expanded at its quickest pace in four months in October as improved domestic demand boosted new business. However, hiring remained subdued and international orders weakened while inflationary pressures eased.
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India's dominant services sector expanded at its quickest pace in four months in October as domestic demand boosted new business to 55.8. The acceleration follows a reading of 55.2 in September, according to survey data released on Wednesday. The expansion highlights resilient local consumption even as international orders soften and hiring growth moderates.