Now Reading: Eight services sectors grew by over 10% in May
-
01
Eight services sectors grew by over 10% in May
Eight of the 19 sectors in India’s trial Index of Services Production grew by more than 10% in May 2026, while another eight expanded from a year earlier, Livemint reports. Overall growth…
The Story in Brief
Eight of the 19 sectors in India’s trial Index of Services Production grew by more than 10% in May 2026, while another eight expanded from a year earlier, Livemint reports. Overall growth was 9.8%, down from 20.8% in April. Accommodation and food services led at 27.4%, followed by real estate at 17.7% and retail trade at 13.3%.
Telecommunications, banking, IT and computer services also recorded double-digit growth. Air transport contracted 2.8%, partly due to the West Asian conflict and higher energy prices. The trial index covers services accounting for about 60% of the sector and uses GST and other administrative data to estimate real output. MoSPI plans to refine coverage before making it a regular release.
The Indian Opinion
The loudest claim will be that one strong month proves an economy-wide boom. That is too sweeping. The index covers mainly formal services, excludes several public and private activities, and May growth slowed sharply from April. The opposite claim, that the data are meaningless because the series is new, is also lazy. Its value will depend on stable readings across more months, especially when the full index is released and coverage expands. Will the next quarter keep average growth above 10%?
Source: livemint.com
This story was synthesised by AI from the source linked above.
