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Services sector activity expands in Sept, employment up after 10 months
India’s services sector activity continued to expand in September, supported by favourable underlying demand amid the easing of COVID-19 restrictions, but lost some momentum from August’s 18-month high level, a monthly survey said on Tuesday.
By
migrator
migrator
New Delhi
The seasonally-adjusted India Services Business Activity Index fell from 56.7 in August to 55.2 in September, but remained well above its long-run average. “Despite easing from August, the rate of expansion was marked and the second-fastest since February 2020,” the survey said.
Buoyed by signs of improvements in underlying demand, Indian service providers took on additional staff during September.
The increase in employment ended a nine month sequence of job shedding, but was marginal overall as some panellists indicated having sufficient workforces to deal with their workloads.
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