×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

The services sector rebounds in June

The services sector rebounds in June
Comment E-mail Print Share
First Published: Tue, Jul 05 2011. 03 03 PM IST

Updated: Tue, Jul 05 2011. 03 03 PM IST
The manufacturing and services purchasing manger indices (PMIs) for India moved in opposite directions in June.
While the manufacturing PMI went down from 57.5 in May to 55.3 in June, the services PMI went up from 55 in May to 56.1 in June. Employment in the manufacturing sector has been contracting, while it continues to expand in services.
Although the pace of output price increases in both services and manufacturing has been decelerating, the rebound in the services sector shows the Indian economy continues to grow strongly and the Reserve Bank of India should, therefore, continue to tighten monetary policy at its next meeting.
Comment E-mail Print Share
First Published: Tue, Jul 05 2011. 03 03 PM IST
More Topics: Markets Update | BSE | NSE | Sensex | PMI |