India’s service sector growth surges to 5 month high in August: PMI

India’s service sector activities surged to a five-month high in August due to resilient demand and easing inflationary pressures, according to the Services Purchasing Managers’ Index (PMI) released yesterday.

The index, compiled by S&P Global, highlighted that PMI numbers



rose to 60.9 in August from 60.3 in July. In contrast, the PMI for manufacturing has shown a downturn, as the index dipped to a three-month low of 57.5 in August. The improvement in services has kept the overall composite PMI unchanged from July’s 60.7.