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India July service PMI at 3-mth high of 58.2

08-04-2011 09:39 BJT

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Good news for India's services sector as well. It expanded at its fastest clip in three months in July, thanks to a solid expansion of new business.

The HSBC Market survey shows that India's services sector PMI rose to 58.2 from 56.1 in June - well above that 50 line that separates growth from contraction. However, there is a downside. Input prices also rose faster, spelling bad news ahead for the nation's already sky high inflation.

Analysts say India's services sector is humming to its own tune with business activity improving over the previous month, in spite of policy rate hikes and high inflation. Many believe though, that the Reserve Bank of India isn't done with tightening yet.

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Editor:Li Wanran |Source: CNTV.CN

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