Services Help Pvt Sector Output Hit 13-Month High

Goods producers signaled the slowest output uptick in 3 months

- SHIVA RAJORA

India's private sector output grew at its fastest pace in 13 months in May, helped by a sharp rise in services that prompted the sector to employ more people, said a private survey on Thursday.

HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.2, up from a downward revised figure of 59.7 in April. The index, which measures monthly change in the combined output of manufacturing and services, has been above the 50 mark that separates growth from contraction for the 46th consecutive month.