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India's services sector growth falls marginally in November
Mint Mumbai
|December 05, 2024
On the wane
India's services sector growth fell slightly in November from the previous month, owing to a drop in growth of new orders and output, a survey released on Wednesday showed.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 58.4 in November from 58.5 in October, but was higher than the 57.7 figure reported in September. It has been above the 50-point threshold that separates expansion from contraction for more than 40 straight months. The index surged to 60.9 in August but has been below that ever since.
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