MUMBAI: New business gains and higher exports helped the private sector to perform better in November leading to the composite purchasing managers index rise in the month to 59.5, a flash survey has showed amid rising inflation pressures.
The month saw accelerated job creation and services sector growth, yet inflation surging to near 14-month high in October at 6.21%. Services sector hiring is the highest since 2005.
“The flash composite output index rose from a final reading of 59.1 in October to 59.5 in November, indicating a sharp expansion that was the strongest in three months and above its long-run average,” HSBC India said on Friday.
