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India's services sector continues to expand at slower pace, employment hits record high
June 05, 2025
|The Statesman Bhubaneswar
India's services sector continued to expand but at a slower pace in May 2025.
The Services PMI rose marginally to 58.8 from April's 58.7, according to the HSBC India Services PMI report released on Wednesday.
Registering 58.8 in May, the seasonally adjusted HSBC India Services PMI Business Activity Index, based on a single question asking how the level of business activity compares with the situation the month before, was broadly in line with April's reading of 58.7 and therefore signaled another sharp rate of expansion.
The index, which is based on a monthly survey of around 400 service companies, signals expansion when the reading is above 50 and contraction when it is below that mark.
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