All-Time High Hiring In Services Sector In May

New Delhi: India’s services sector activity kept up its high pace of growth in May, driven by a strong demand for exports, which also saw hiring of staff by firms surge to an all-time high during the month, according to the latest HDBC survey.

Registering 58.8 in May, the seasonally adjusted HSBC India Services PM Business Activity Index – based on a single question asking how the level of business activity compares with the situation the month before – was broadly in line with April’s reading of 58.7 (PMI) and therefore signalled another sharp rate of expansion.