new Delhi. The PMI of the service sector has also registered a rapid growth in October due to the improvement in manufacturing and economic activities. The PMI of the service sector has reached an eight-month high. Earlier in the month of September, the service sector PMI was below 50. Which is considered a sign of decline. For the first time in eight months it happened that PMI has more. Let us also tell you how much the service sector PMI has become.
PMI at the height of eight months
After the unlock process, economic activities have started in the country. The effect of which is being seen in many sectors. After manufacturing, the service sector has also grown. According to statistics, the service sector reached 54.1 beyond 50. Earlier in September, it was at 49.8. According to experts, the service sector is also improving by slowly opening the economy after lockdown. Due to this, the service PMI in October has reached the highest level since February this year.
Also read: No increase in US crude oil due to US Presidential Election
There was improvement in manufacturing as well
With the thrust of economic activity after the lockdown, manufacturing activity has registered a rapid growth in view of the festive season. The manufacturing PMI rose to 58.9 in October this year. Earlier in September this year, the manufacturing PMI had witnessed a rapid growth when it had risen to 56.8, the highest level since May 2010.
Also read: US Presidential Election Result: Gold and Silver cheaper from New York to New Delhi