Economic Buzz: India services PMI revised to 58.8 in May, signals strong growth

India?s services PMI was revised down to 58.8 in May 2025 from a flash estimate of 61.2, but remained above April?s 58.7, indicating the fastest growth since February. Output and new orders rose strongly, while foreign demand saw one of the biggest gains in nearly two decades. Job creation hit a record high, though backlogs eased more slowly. Input cost inflation climbed to the highest this year, driven by cooking oil, materials, and meat, prompting firms to raise output prices at the sharpest pace in six months. Business confidence also improved from April?s 23-month low.

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