India's Services Sector Growth Climbs To 13-Year High In July
NDTV
Demand for Indian services improved to the greatest extent in over 13 years during July, with around 29 per cent of survey participants reporting higher intakes of new business.
India's services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and pick-up in international sales induced the strongest increase in new business and output, a monthly survey said today.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.5 in June to 62.3 in July, signalling the sharpest increase in output since June 2010.
For the 24th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
