India’s services industry recorded its fastest expansion in 13 years in July, with S&P Global’s India Services Purchasing Managers’ Index (PMI) rising to 62.3 from June’s 58.5. The surging demand was unexpected, pushing the PMI reading to its highest level since June 2010 and above the 50-mark that separates growth from expansion.
India’s services growth at 13-year high in July on strong demand
India’s services industry recorded its fastest expansion in 13 years in July, with S&P Global’s India Services Purchasing Managers’ Index (PMI) rising to 62.3 from June’s 58.5. The surging demand was unexpected, pushing the PMI reading to its highest level since June 2010 and above the 50-mark that separates growth from expansion.