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Purchasing Managing Index surges to 11-year high in May

Published on June 03, 2022
Current Context: S&P Global India Services Purchasing Managers’ Index rose to 58.9 in May from 57.9 in April, its highest since April 2011.
Purchasing Managing Index surges to 11-year high in May
  • The reopening of the Indian economy continued to help lift growth in the service sector.
  • As economic activity continued to normalize with the lifting of pandemic restrictions. It separates growth from contraction for a tenth consecutive month.
  • The main factor behind it was Strong Services and manufacturing activity boosted the composite index to such a high level.
  • Apart from that country’s economy expanded 4.1% year-on-year in the January-March quarter.
  • As per data, there has been a rise in retail inflation due to energy and commodity price rises caused by the Russia-Ukraine war.
  • Besides we all knew that India’s economy is grappling with eight-year high inflation in April RBI must come up with strong policy rates to tackle it.

Question:

Q.1 As per recent data India’s Purchasing Manager Index has increased to ________ in May compared to April?
a. 56.9
b. 58.9
c. 57.2
d. 60.1
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