India's services sector maintains growth momentum in May as output expands: HSBC India Services PMI
New Delhi, June 3 -- India's services sector maintained its growth momentum in May as new business intakes and output rose amid a demand push, particularly in the domestic market, a private survey showed on Wednesday.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 59.8 in May from 58.8 in April. It has continued to grow since April, after registering its weakest growth in 14 months in March. Growth in May was the strongest since last November.
Despite monthly swings, the index has remained above the 50-point threshold, which separates contraction from expansion, for more than four years, highlighting the sector's resilience to headwinds.
Input costs receded to their lowest in four months and s...
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