Due to continuous efforts, new businessmen have benefited immensely
India’s services sector performed better than expected in August amid rising demand and cost-cutting. The S&P Global India Services Purchasing Managers Index or Services PMI Index rose from a four-month low of 55.5 in July to 57.2 in August.
This exceeds the estimate set by Reuters. This is the 13th consecutive month that the PMI has remained above the 50 mark. The S&P survey showed that the spurt in new business openings has resulted in large numbers of jobs being created by companies and has reached a 14-month high.
Pollyanna de Lima, associate director of S&P Global Market Intelligence, said the easing of COVID-19 restrictions and continued efforts to expand business have resulted in huge gains for new traders. PLC/GT