Robust services drive India's business activity to 3-month high in Nov, cost pressures grow

BENGALURU - India's business activity rose at its fastest pace in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed.

A PMI for the dominant-services sector rose to 59.2 from 58.5 last month, its highest since August. The manufacturing sector also continued to expand in November, although the pace slowed slightly and its index fell to 57.3 versus 57.5. Led by services firms, employment generation rose at the fastest pace since the survey began in December 2005, a positive indicator of economic health and consumer spending power.

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