 "India's May PMI services comes at 58.9 on strong demand; hits 11-year high")
India's dominant services sector expanded at the fastest pace in 11 years in May on strong demand, although inflationary pressures touched new highs, restricting optimism and weighing on consumers' pocketbooks, a private survey showed.
The S&P Global India Services Purchasing Managers' Index rose to 58.9 in May from 57.9 in April, its highest since April 2011 and comfortably beating the Reuters poll expectation of 57.5.
It stayed above the 50-mark that separates growth from contraction for a tenth consecutive month, the longest streak of expansion since 12 months of growth between June 2018 and May 2019.
Overall demand rose at
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