India’s services sector witnessed a recovery in June, bouncing back from a five-month low in May. This resurgence was driven by a rise in new orders and an unprecedented expansion in international sales, as revealed by a recent business survey. The survey highlighted that companies were hiring at the fastest pace in nearly two years.
The headline Purchasing Managers’ Index (PMI) for the services sector, released by HSBC on Wednesday, increased to 60.5 in June from 60.2 in May. This marks a sustained period of growth, as the PMI has remained above the 50-mark threshold, which separates growth from contraction, for nearly three years.
This story is from the July 04, 2024 edition of The Business Guardian.
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This story is from the July 04, 2024 edition of The Business Guardian.
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