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May services activity expands at second fastest pace in 13 years
May services activity expands at second fastest pace in 13 years
India's services sector maintained strong growth in May, according to a survey by S&P. The India Services PMI Business Activity Index fell to 61.2 from 62 the previous month, but remained above the threshold that defines growth. The results reflect the resilience of the country's demand and growth, as well as expansion in new export business for the fourth straight month. The increases in output were, however, mirrored by rising input prices, which have risen at the fastest rate since last December.
India's services sector maintained strong growth in May, according to a survey by S&P. The India Services PMI Business Activity Index fell to 61.2 from 62 the previous month, but remained above the threshold that defines growth. The results reflect the resilience of the country's demand and growth, as well as expansion in new export business for the fourth straight month. The increases in output were, however, mirrored by rising input prices, which have risen at the fastest rate since last December.
India's services sector maintained strong growth in May, according to a survey by S&P. The India Services PMI Business Activity Index fell to 61.2 from 62 the previous month, but remained above the threshold that defines growth. The results reflect the resilience of the country's demand and growth, as well as expansion in new export business for the fourth straight month. The increases in output were, however, mirrored by rising input prices, which have risen at the fastest rate since last December. 
