Services growth in May stays robust on global demand

NEW DELHI: Activity in service sector remained robust in May as demand from overseas was the strongest in nearly two decades of data collection. There was also a record rise in employment in sector, a survey showed. Registering 58.8 in May, the HSBC India Services PMI Business Activity Index was largely in line with April's reading of 58.7 and signalled another sharp rate of expansion. The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to a question sent to 400 service sector firms.