Good news on the economy front, service sector PMI reached a record high of three months in November.

Those surveyed said the fresh demand is driven by successful marketing and steady growth in sales. The Services PMI is above 50 for the 16th consecutive month.
Good news for the Indian economy. Services sector growth in India reached a three-month high in November on strong demand in the market. This information was given on Monday in a monthly survey. The seasonally adjusted S&P Global India Services PMI business activity index stood at 55.1 in October, and rose to 56.4 in November, indicating a sharp increase in services activity. The strength in the service sector means that new jobs are being created in the country. That means new employment opportunities are being created. When new opportunities are created in the economy of any country, then the demand increases in the market. It works to increase and increase the speed of GDP.
Demand increased due to continuous increase in sales
Significantly, the growth rate is at a three-month high despite higher operational expenses. Those surveyed said the fresh demand is driven by successful marketing and steady growth in sales. The Services PMI is above 50 for the 16th consecutive month. In Purchasing Managers’ Index (PMI) parlance, a score above 50 indicates expansion in activity, while a score below 50 means contraction. Indian service providers continued to take advantage of strong domestic demand, with rapid growth in new business and production, said Pauliana De Lima, joint director of economics at S&P Global Market Intelligence. Employment grew at a solid pace, the fastest in three years, the survey said.
There was a boom in October as well
India’s services sector activity accelerated in October, buoyed by a jump in employment activity and gains in new businesses in demand. Services sector activity expanded for the 15th consecutive month in October. Continued growth in new businesses in the service economy and production needs have supported job creation. Employment increased for the fifth month in a row and for the second time in three years that the pace has been so high. Job creation was also boosted by positive growth projections in October.