Booming services fire up India business growth in May despite rising inflation, PMI shows
BENGALURU, May 22 (Reuters) – India’s private sector activity accelerated at its fastest pace in over a year in May, driven by robust expansion in services even as price pressures intensified, a survey showed on Wednesday. HSBC’s Flash India Composite Purchasing Managers’ Index (PMI) compiled by S&P Global, rose to 61.2 this month from April’s 59.7 – the sharpest rate of increase since April 2024 and confounding a Reuters poll median forecast for a dip to 59.5. The 50-mark separates contraction from expansion, and the latest reading showed sustained private sector growth for nearly four years. “India’s flash PMI indicate