India's service sector activity expanded at the fastest pace in just over thirteen years amid a substantial improvement in demand conditions, the results of the purchasing managers' survey by S&P Global showed on Thursday.
The services Purchasing Managers' Index, or PMI, climbed to 62.3 in July from 58.5 in June. A score above 50 indicates expansion in the sector.
During July, Indian service demand improved to its highest level in over 13 years, boosted by a pickup in international sales. New export orders grew at the second-fastest increase since series started in September 2014.
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