India services activity grows at fastest pace in 4 months; PMI rises to 55.8

New Delhi, Nov 4 (UNI) India's services sector witnessed a stronger expansion in October, with business activity growing at its fastest pace in four months, supported by robust domestic demand and an increase in new customer orders. At the same time, easing input costs provided some relief to service providers, with inflationary pressures declining to their lowest level in over six years. According to the HSBC India Services Purchasing Managers' Index (PMI), the seasonally adjusted business activity index climbed to 55.8 in October from 55.2 in September. A reading above 50 indicates expansion, while a score below that level signals…