Services PMI rises to 59.8 in May on strong demand

India's services sector expanded at a faster pace in May, with the S&P Global Purchasing Managers' Index rising to 59.8 from 58.8 in April. Growth was supported by strong domestic and overseas demand, rising new business orders, and easing input cost pressures. Freight, IT, e-commerce and consumer services led expansion, while employment remained solid, the second-fastest in nearly a year.