New Delhi: The service sector in India reported its fastest growth in last 11 years. Purchasing Managers’ Index (PMI) survey conducted by S&P Global India Services revealed this.
The PMI Business Activity Index surged to 59.2% in June this year. It was at 58.9% in May this year. This is the highest growth since April 2011. The survey also revealed that the service sector witnessed an expansion in output for the 11th month in a row. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
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Meanwhile, the manufacturing sector growth slumped to a nine-month low in June. Manufacturing Purchasing Managers Index (PMI) declined to 53.9 points in June. It was at 54.6 points in May.
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