India's services activity rises to 59.2 in June, highest in 11 years

Unrelenting inflation continued to worry businesses that were cautiously optimistic about the year-ahead outlook for business activity

Services activity in June expanded at the fastest pace in over 11 years. This comes amid new demand orders and upturn in economic activity, following withdrawal of pandemic restrictions, a private survey showed.  

Data released by S&P Global on Tuesday showed that Purchasing Managers' Index (PMI) services rose from 58.9 in May to 59.2 in June, the highest since April 2011.

A print above 50 is considered expansion while below 50 is taken as contraction.

“Services firms noted a substantial upturn in new work intakes at the end of the first fiscal quarter, with the rate of increase improving to