Business EconomyPosted at: Jun 3 2026 12:36PM


Services sector activity grows to six-month high, PMI at 59.8

New Delhi, Jun 3 (UNI) India’s services sector activity grew to a six-month high in May, with the HSBC India Services Purchasing Managers’ Index (PMI) rising to 59.8, up from 58.8 in April, as per the data compiled by S&P Global.
“Strengthening demand for services such as freight, digital solutions, e-commerce, entertainment and IT reportedly boosted new business growth during May. As a result, companies lifted activity to a greater extent and continued to add to payroll numbers,” said the survey.

PMI reading for May was the highest since November 2025, when it stood at 59.8.
"India's services PMI signalled an expansion in business activity in May, supported by a continued rise in new business. External demand for India-provided services also grew at a faster pace, rebounding after a sharp decline in April," Pranjul Bhandari, Chief India Economist at HSBC, said.
Further, India's manufacturing activity also strengthened in May. The PMI rose to a three-month high of 55.0, as per the data compiled by S&P Global. The April manufacturing activity stood at 54.7.
The PMI is a weighted average of indices measuring new orders, output, employment, suppliers' delivery times, and stocks of purchases. A reading above 50 indicates expansion in manufacturing activity, while a figure below 50 signals contraction.
West Asia crisis keeps cost pressures near a four-year high, as input cost inflation remained among the strongest seen in the past four years. It was primarily driven by higher energy, fuel, material, and transportation costs amid the ongoing conflict in West Asia.
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Tags: #Services sector activity grows to six-month high# PMI at 59.8
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