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Services activity expands again in August as PMI rises to 57.2

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At 57.2, India's services PMI for August has come in above 50 for the 13th month in a rowIndia's services activity rebounds in August, hiring at over 14-year high |  Mint

India's services sector expanded for the 13th month in a row in August, with activity expanding faster than it did in July.

The S&P Global India Services Purchasing Managers' Index (PMI) rose to 57.2 in August from 55.5 in July, data released on September 5 showed.

A reading above 50 indicates expansion in activity while a sub-50 print signals contraction.

"The pickup in growth stemmed from a rebound in new business gainsas firms continued to benefit from the lifting of COVID-19 restrictions and ongoing marketing efforts," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.

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