new Delhi . India’s service sector recovery weakened in November, while new work-backed business activity growth accelerated. However, the sector has also witnessed the first increase in employment in nine months. In addition, the overall level of positive perception has climbed to the highest level among February predictions, as it states that market conditions will return to normal once a vaccine for coronavirus is found.
The monthly survey India Services Business Activity Index remained above the 50-point mark for the second consecutive month in November, reflecting a surge in business. Although it declined from 54.1 (index reading) in October to 53.7 (index reading) in November, the latest figures show that the business is improving. Demand has risen sharply following the nationwide bandh imposed due to Kovid-19.
The IHS Market Report states, “New business flows have grown solidly for the second consecutive month despite a deceleration in growth since October. According to survey participants, increased sales have led to slackening of demand, marketing efforts and Kovid-19 controls The situation has increased. The report said, “Based on the data, it has been suggested that the overall new work momentum is driven by the domestic market and with new export orders, it is declining again in November.” . “