BackThe services sector rebounds in June
The services sector rebounds in June
Premium
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
