Ecnomic Buzz: India's services sector growth touches 10-month high in June

The Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders. In the Purchasing Managers' Index (PMI), a print above 50 means expansion, while a score below 50 denotes contraction. The composite output index also climbed to 61.0 in June from 59.3 in May, indicating the fastest rate of expansion in the Indian private sector in fourteen months. Growth quickened atboth manufacturers and service providers.

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