India’s service sector activity rose at a softer pace in November, survey results from IHS Markit showed Thursday.
The IHS Markit services Purchasing Managers’ Index fell to 53.7 in November from 54.1 in October. Economists had forecast a score of 55.5. Any reading above 50.0 indicates expansion in the sector.
New business inflows rose for the second straight month in November and total new work increased. New export orders declined sharply in November.
International sales fell for the ninth month in a row and outstanding business increased further.
The pace of backlogs accumulation quickened. The employment increased in November, with the rate of employment rising marginally.
Input prices continued to rise in November and selling prices rose at an above trend rate. The latest growth was the quickest since July 2017.
The business confidence in the next 12 months increased and the overall degree of optimism improved to the highest in nine months. Positive sentiment increased by hopes that vaccine for Covid-19 will be rolled out.
The survey showed that the composite output index, which combines services and manufacturing output, fell to 56.3 in November from 58.0 in the previous month.
“Low interest rates aimed at mitigating the negative impacts of COVID-19 on the economy and the latest rise in services employment are supportive factors for domestic demand,” Pollyanna De Lima, an economics associate director at IHS Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.