India's services sector experiences strongest growth in four months driven by demand surge and easing inflation

Economy

1 year ago

News sources:

Credited from: INDIATIMES

India's services sector growth reached a **four-month high** in December, indicated by the HSBC India Services Business Activity Index rising to **59.3**.
The increase is attributed to a **surge in new business inflows** and strong demand conditions that have prompted companies to **hire more workers**.
While there were reported increases in costs for food, labor, and materials, overall **input costs slowed**, contributing to a lessening in selling price increases.
In contrast, the **manufacturing sector** is experiencing a slowdown, marking growth at a **12-month low** due to weaker expansions.
Despite slight declines in overall sentiment, service providers remain optimistic about progress over the next **12 months**, supported by ongoing **job creation**.

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