Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
economy
November 3, 2022

Services Sector Recovers Growth Momentum

Urvi Srivastava Financial Reporting growth, Service sector

According to the data released by S&P Global on Thursday showed the services PMI increased to 55.1 in October from 54.3 in September led by robust domestic demand

Amid the inflationary pressures, India’s services sector picked up pace in October as the Purchasing Managers’ Index (PMI) increased from September’s six-month low.

According to the data released by S&P Global on Thursday showed the services PMI increased to 55.1 in October from 54.3 in September led by robust domestic demand.

Also, the October print is the 15th month in a row that the services PMI has gone above 50.

The key driver for this hike last month was the domestic demand however, overseas demand declined further, as per the survey data.

The report further stated that the majority of the gain came from consumer services, with finance and insurance second.

As per S&P Global, at the start of the third fiscal quarter, favourable service demand continued to support increases in new business and output. Furthermore, expansion rates accelerated from September’s six-month lows. 

It added that service providers hired more people as a result of the ongoing recovery in new business, and improved company confidence also encouraged employment.

Meanwhile, the manufacturing PMI – the other component of the composite index – had increased to 55.3 in October from 55.1 in September, as per the data released on November 1.

Avatar

Urvi Shrivastav

→ Urvi Shrivastav

India’s Gaming Market Hits $2.6Bn: Report Inflation In India May Fall Below 6% By Dec 2022: PHDCCI

Related Posts

Mayank

Financial Reporting

Synergizing finance, strategy and management: The multipronged role of today’s CFO

NEC

Financial Reporting

NEC Corporation elevates India CFO Mayank Khandelwal to Head of Finance for Global Regional Headquarters and Country Affiliates

Screenshot 2023-04-18 190754

Financial Reporting

Ramesh Bafna Appointed As The New CFO Of Zepto; Succeeding Jitendra Nagpal

Selected Stories

  • MayankSynergizing finance, strategy and management: The multipronged role of today’s CFO

    Read more

  • NECNEC Corporation elevates India CFO Mayank Khandelwal to Head of Finance for Global Regional Headquarters and Country Affiliates

    Read more

  • Screenshot 2023-04-18 190754Ramesh Bafna Appointed As The New CFO Of Zepto; Succeeding Jitendra Nagpal

    Read more

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer

    Read more

  • 1494568857_NoPMEQ_CFO-470CFO – From ‘Finance’ To ‘Futuristic’

    Read more

Movements

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer
  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures
  • thumbnail_Sidharth1Siddharth Sehgal Is New CFO Of BeatO
  • Business men giving a handshake. Business conceptRamamurthy Becomes MD, CEO of BSE, SEBI approves appointment

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.