Services Sectors
STRI: India rises on OECD index, still ranks fourth from the bottom
The 2022 STRI reflects restrictions that apply on key strategic services sectors such as rail freight transport, legal services and accounting, OECD said
 "STRI: India rises on OECD index, still ranks fourth from the bottom")
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
 "India's services activity rises to 59.2 in June, highest in 11 years")
Services activity at 11-year high in May on post-Covid business growth
The S&P Global India PMI rose to 58.9 in May from 57.9 in April, the highest since April 2011
 "Services activity at 11-year high in May on post-Covid business growth")
Omicron spread: Night curfews may affect services sector recovery
During the first wave of the pandemic in 2020, a contraction in the services sector was sharper than in manufacturing and took seven months to return to expansion territory.
 "Omicron spread: Night curfews may affect services sector recovery")
Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data
Credit to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020 vis-a-vis 13 per cent in June 2019
 "Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data")
Service PMI hits 7-year high in Jan on favourable market. business optimism
The IHS Markit India Services Business Activity Index rose from 53.3 in December to 55.5 in January, signalling the strongest upturn in output in seven years
 "Service PMI hits 7-year high in Jan on favourable market. business optimism")
Solid domestic demand lifts services PMI to 7-year high of 55.5 in Jan
he Nikkei/IHS Markit Services Purchasing Managers' Index rose to 55.5 in January from December's 53.3
 "Solid domestic demand lifts services PMI to 7-year high of 55.5 in Jan")
Services activity falls to 48.7 in Sep; second contraction this year: PMI
India's economy has been hobbled by a demand slump, prompting policymakers to step up fiscal and monetary stimulus to revive growth
 "Services activity falls to 48.7 in Sep; second contraction this year: PMI")
India's services PMI hits a year's high in July on new business orders
In PMI parlance, a print above 50 means expansion while a score below that denotes contraction
 "India's services PMI hits a year's high in July on new business orders")
Govt announces Rs 50 bn fund to jumpstart growth in 12 key services sectors
Export competitiveness and job creation in IT, logistics, hospital and other sub-sectors targeted
 "Govt announces Rs 50 bn fund to jumpstart growth in 12 key services sectors")
