Business activity in India witnessed a robust growth in May, helped by the dominant services industry. HSBC's flash India Composite purchasing managers' Index, compiled by S&P Global, edged up to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction. The flash services PMI index rose to a four-month high of 61.4 compared to 60.8 in April while preliminary manufacturing PMI eased marginally on a monthly basis, dropping from 58.8 to 58.4.
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