Services sector activity has shown a sharp recovery in May and has grown at the strongest rate in 11 years, even amid rising price pressures. Even though input cost inflation has hit a record high, the sector's PMI index has risen from 57.9 in April to 58.9 in May, driven by increased demand and strong growth in new jobs, a monthly survey said on Friday. Gone.
Economist Pollyanna De Lima, Associate Director in the S&P Global India Services report, said the reopening of the Indian economy continued to support growth in the services sector. Business activity grew at the fastest pace in May in 11 years since July 2011, supported by the sharpest increase in new orders. Significantly, for the tenth consecutive month, there has been an increase in the activities of the services sector. In Purchasing Managers Index (PMI) parlance, a reading above 50 indicates expansion, while a reading below 50 indicates contraction.
The survey said the burden in the services sector has also increased at a faster rate amid rising input costs. Despite remaining optimistic about the 12-month outlook for business activity, S&P Global remains concerned that inflationary pressures could stifle the economic recovery. Meanwhile, the S&P Global India Composite PMI Output Index, which measures combined services and manufacturing output, rose from 57.6 in April to 58.3 in May, pointing to the fastest expansion rate since last November.
Also Read: Yes Bank Scam: CBI brought to Delhi for questioning builder Bhosale, action in Yes Bank scam case
Vaibhav Suryavanshi smashed two sixes in the third youth ODI, a record anyone would dream of breaking.
Indian Under-19 team's explosive opener Vaibhav Suryavanshi missed out on a big innings in the third Youth ODI against Australia on Friday. He was bowled by Charles Lachmond on the first ball of the
Army chief: Army Chief said- Terrorism is getting support from across the border, we are ready to deal with any situation
Before Army Day, Army Chief General Manoj Pandey said that this time's event is special. Because this is the 75th year of independence. During this, he answered questions on many issues. Regarding the
Dwarka Expressway: Cost of Rs 9000 crore, nine km on eight lanes and single pillar; Know the specialty of elevated expressway
Prime Minister Narendra Modi is gifting the Dwarka Expressway to the people on Monday. The administration has made complete preparations. For this, a grand inauguration ceremony has been organized on
This comedian called Salman Khan's show Bigg Boss a madhouse. Saying this he rejected a big offer.
Wherever there is controversy, it takes no time for the makers of Bigg Boss to reach there. The finale of the last season Bigg Boss 18 took place in January, but as soon as it ended, the makers have
PM Modi Meditation: PM's meditation continues, opposition leaders leveled a volley of allegations; Kharge said- Politics and religion should never be brought together
Prime Minister Narendra Modi has been engaged in 45 hours of meditation at Vivekananda Rock Memorial since Thursday evening, but the opposition has made it an issue. Opposition leaders are seen doing
Kolkata Case: 'Hang him or do whatever you want...', the accused's mother-in-law said on the rape-murder case of a female doctor
The investigation into the rape and murder of a female doctor at Kolkata's RG Kar Medical College and Hospital is underway. On the other hand, protests are continuing against the incident. Meanwhile,
Will Aamir Khan capture the box office again in Christmas? Will bring the sequel of his blockbuster film
The last few years have been very disappointing for Aamir Khan at the box office. His film 'Lal Singh Chaddha', released in the year 2022, flopped badly. No film of Aamir Khan has been released in the
Govinda's replacement breaks up the 'Bhagam Bhag' trio; Paresh Rawal reacts, saying, "The Akshay-Manoj pair..."
Just a few days ago, news broke that Govinda had been replaced by Manoj Bajpayee in the sequel to the 2006 superhit film "Bhagam Bhag."
Baba Siddique's murder was due to his association with Salman Khan, Lawrence gang has given a clear message to Bhaijaan's close ones.
The Mumbai Police Crime Branch has confirmed that the reason behind the murder of NCP leader Baba Siddiqui is his close association with superstar Salman Khan, who has been on the hit list of the
US on Pakistan: America's advice to Pakistan, 'action on terrorist organizations is necessary for a strong partnership'
America has once again made a statement after US President Joe Biden called Pakistan the most dangerous country in the world. The US has once again reiterated that it expects Pakistan to take
