India Services Growth Steady in May; Jobs Hit Record High

  Published 1 year ago

India’s services sector maintained strong growth in May, with robust new business, record job creation, and a surge in international demand. The HSBC Services PMI stood at 58.8, nearly unchanged from April. Despite inflationary pressures, both services and manufacturing sectors showed sharp overall expansion.

  • Services PMI at 58.8, stable from April.
  • Record rise in employment across sectors.
  • Input and output prices rose above average.
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