Services PMI rises to 59.2 in June, highest since April 2011.

July 7, 2022

Services activities are on rise as Purchasing Managers’ Index (PMI) rose to 59.2 in June This is highest mark since April 2011. Service sector has a share of over 53 per cent in gross value added. PMI is based on survey and data compiled by S&P Global.
India’s services activity expanded again in June, with the S&P Global India Services Purchasing Managers’ Index (PMI) coming in at 59.2.
A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of 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 the best in over 11 years.
According to, economics associate director at S&P Global Market Intelligence, Demand for services improved to the greatest extent since February 2011, supporting a robust economic expansion for the sector over the first quarter of FY23 and setting the scene for another substantial upturn in output next month.