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India's Economy Gains Momentum in October
23 Oct
Summary
- India's economy showed increased momentum in October, according to a survey.
- The services purchasing managers' index reached its highest point since June.
- Manufacturing purchasing managers' index experienced a slight decrease.
India's economic activity experienced a noticeable acceleration in momentum during October. This trend was highlighted by a flash survey released on Friday.
The services purchasing managers' index recorded a significant rise, climbing to 56.2. This marks the highest reading for the index since June and indicates strong expansion in the services sector.
In contrast, the manufacturing sector showed a slight contraction in its growth momentum. The manufacturing purchasing managers' index slipped to 54.9, a marginal decrease from September's figure of 55.1. Despite this minor dip, the index remains in expansionary territory.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
