New orders & robust demand lift India's October services growth to 4-month high

India's services sector growth reached a four-month high in October due to robust demand and new business orders. This improvement is reflected in the HSBC Services Business Activity Index, which rose to 55.8. The increase indicates better business conditions, which is a positive sign for the Indian economy. This growth is particularly significant as it contrasts with a slight decline in manufacturing activity.

Why it matters

Strong domestic demand and business orders are driving growth in India's services sector. This could lead to an increase in investor confidence and a boost to the Indian economy.

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