June services sector growth fastest in eight months

Services PMI rises to 53.1 in June, up from 52.2 in May

Buoyed by sustained growth in new work, the services sector continued to boom ahead in June, growing at an eight-month high pace, the widely tracked Nikkei India Services Purchasing Managers Index (PMI) showed.

The PMI for the dominating sector of the Indian economy stood at 53.1, higher than the 52.2 registered in May - back then a seven-month high.The 50-point mark separates expansion from contraction, indicating that the health of the sector continues to be positive.

According to survey participants, improved demand conditions and marketing efforts enabled them to secure new work. Factory orders also rose, but to the least