Activity in India's services sector grew at its fastest pace in well over a year in June as new business poured in, adding to signs of a pick-up in the economy even as inflation remains high, a survey showed on Thursday, reports Reuters. The HSBC Services Purchasing Managers' Index, compiled by Markit, jumped to a 17-month high of 54.4 in June from 50.2 in May.
That was the biggest one-month rise in the index in four years. Before May, the services PMI had been stuck below 50, which divides growth from contraction, for almost a year.
The data supports growing optimism among Indian firms that the new government led by Prime Minister Narendra Modi will push through reforms after years of policy paralysis.
India services growth hits 17-month high in June
FE Team | Published: July 04, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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