03.06.202605:00:00UTC+00India’s Services Momentum Strengthens as HSBC PMI Edges Up to 59.8 in May

India’s services sector extended its expansionary streak in May, with the HSBC India Services Purchasing Managers’ Index (PMI) rising to 59.8, up from 58.8 previously. The latest reading, covering May 2026, signals a stronger pace of growth in one of the country’s key economic engines.

The increase in the index, released with updated data on 03 June 2026, underscores sustained resilience in services activity. A PMI figure above 50 indicates expansion, and the move from 58.8 to 59.8 suggests that business conditions improved at a faster rate over the month.

While detailed drivers of the improvement were not disclosed in the available data, the higher PMI reading typically reflects stronger demand, rising new orders, or increased business activity within the sector. Investors and policymakers will be watching subsequent releases closely to assess whether this momentum in India’s services industry can be maintained in the coming months.