Services sector growth in August 2024 was the second-slowest since March 2022, indicating near four-year low expansion pace
GK and monthly revision
India services activity expands in August, but growth remains near four-year low
India's services sector expanded in August 2024, driven by higher business and consumer demand, but growth remained near a four-year low, marking the second-slowest pace since March 2022. Manufacturing activity hit a five-year low, though composite growth stayed steady as services offset the manufacturing decline. Business confidence for the coming year remained below normal levels, signaling cautious economic outlook. This data is crucial for understanding India's post-pandemic recovery trajectory and sectoral imbalances.
Source: Economic Times. This summary and analysis are AI-written from that report and are not individually fact-checked — confirm names, dates and figures with the source before you rely on them.
Revision structure
Monthly events and exam calendar context
Static GK and one-liner notes
Quiz and mock-test revision path
Key points
Exam-ready takeaways
Manufacturing activity contracted to a five-year low in August 2024, reflecting weak industrial demand
Composite PMI remained steady as services growth balanced manufacturing decline
Business confidence for the next 12 months stayed below historical average levels
Data sourced from S&P Global India Services PMI and Manufacturing PMI surveys for August 2024
How to study
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