India’s services sector drove a significant boost in business activity in November, even as manufacturing growth experienced a slight deceleration. The S&P Global India Services PMI rose to 61.7 in November from 60.5 in October, marking the 27th consecutive month of expansion in the sector. The robust performance was attributed to strong demand, improved client confidence, and an uptick in new orders across domestic and international markets.
Source:- bbc news
In contrast, the manufacturing sector saw a marginal slowdown, with the Manufacturing PMI easing to 57.5 from 58.5 in October. While still firmly in expansion territory, this marks a moderation in growth. Factors such as rising input costs and a cautious approach to inventory management were cited as reasons for the slower pace.
Source:- news 18
The combined S&P Global Composite PMI, which integrates both services and manufacturing data, climbed to 61.0 in November, reflecting overall resilience in the economy. The services sector’s outperformance highlights its crucial role in driving growth, offsetting the moderation seen in manufacturing.
Economists view this trend as indicative of a balanced yet dynamic economic landscape. The sustained expansion in services aligns with India’s growing digitalization, robust consumer demand, and global outsourcing opportunities. However, the slight deceleration in manufacturing calls for attention to supply chain dynamics and cost management.
India’s economic outlook remains positive, with strong contributions from its services sector expected to support GDP growth in the coming quarters. Policymakers may, however, need to address inflationary pressures and bolster manufacturing to ensure balanced growth across sectors. The divergence in sectoral performance serves as a reminder of the need for targeted interventions to sustain the broader economic momentum.
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